RBI Cancels Licences of 12 Co-Operative Banks | What Deposit Holders Must Know!

⚠️ ALERT for Bank Customers!In just one year, the RBI has cancelled licences of 12 urban co-operative banks due to poor financial health and regulatory failures. The latest—Karwar Urban Co-Operative Bank—lost its licence on July 23.💡 Why this matters:• Poor capital, earnings, and inability to repay liabilities• Risk to depositor funds in many small banks• RBI acting to protect public interest💰 Are Your Deposits Safe?✔️ Under DICGC insurance, each depositor is protected up to ₹5 lakh (including interest).✔️ For Karwar Bank, 92.9% depositors will get full refund✔️ Amount above ₹5 lakh depends on court liquidator recovery—can take years🕒 Refund via DICGC usually within 90 days of licence cancellation📲 Follow CyberPlatter for vital financial & cyber awareness🌐 www.cyberplatter.com#RBIBankNews #CooperativeBankFraud #RBIAction #BankLicenseCancelled #CyberPlatter #FinancialNewsIndia