Reserve Bank Cancels the Licence of Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP)


With effect from 16/11/2012, Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP), ceased to exist.

This is as per RBI notification. The extreme step was taken after all the efforts to revive the bank failed. There was no justification for the continued uncertainty amongst the Bank depositors.

As in every bank liquidation,  every depositor would be  entitled to repayment of his/her deposits up to a monetary ceiling of Rs1,00,000/- (Rupees one lakh only) from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

The bank was pretty young, with RBI granting a licence in 1997. The bank somehow by 2001, was in a bad financial position.

Ghaziabad is also known as the ‘Gateway to UP’.  It is on the border of New Delhi, and can said to be a prosperous suburb of New Delhi.

The present day Ghaziabad was founded in 1740 and its original name was Ghaziuddinnagar. After the opening the railway line the name of the place was shortened to Ghaziabad.

Re-disseminated by Prashant N. Banker by daytime, blogger by night.

 

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One thought on “Reserve Bank Cancels the Licence of Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP)”

  1. In this bank my money of Rs.80000/But i have not Received the any amount from bank ,i have many complaint to RBI ,DICGC but every department could not give the satisfy answer.All RBI officer and DICGC officer and U.P.goverenment officer is very comfertable and depositof of this bank is very suffering. My account no is CH-6445 ,Vinay Prakash shukla Mobile no 8115401774

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