CM’s intervention saves licences of four district cooperative banks
May 15, 2012
Gandhinagar, 15 May 2012
Even as the Reserve Bank of India (RBI) declared cancellation of licenses of 42 different district central cooperative banks in the country for advancing farm loans, Gujarat Chief Minister Narendra Modi’s timely intervention saved four such banks in Gujarat from their licenses being cancelled.
The Gujarat Government paid Rs.85-crore to the RBI in time, allowing those four banks from Kutch, Junagah, Surendranagar and Vadodara district continue their business.
Out of 42 district central cooperative banks, 22 are from Uttar Pradesh, six from Maharashtra, five from Bihar and one or two from other states.
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