RBI has canceled the license of this bank; There is no guarantee that people will get their money back
LATEST UPDATE RBI has canceled the license of this bank; There is no guarantee that people will get their money back Refund of up to Rs.5 lakh -Reserve Bank of India has directed the Maharashtra Co-operative Commissioner and Registrar of Co-operative Societies to close the bank (Jai Prakash Narayan Nagri Ashtray Bank Basmathnagar) and appoint a liquidator. After completion of liquidation process, payment will be made to cooperative bank account holders through deposit insurance claims
