RBI cancels United Co-operative Bank's licence

The bank ceases to carry on banking business with effect from the On liquidation, every depositor is entitled to receive deposit insurance claims up to Rs 5 lakh.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/rbi-cancels-united-co-operative-banks-licence/articleshow/82652064.cms