What action did the Reserve Bank of India (RBI) take regarding the Urban Co-operative Bank in Sitapur, Uttar Pradesh?
Issued a warning
Imposed a fine
Revoked the license
Put it under surveillance
Correct Answer :
C. Revoked the license
RBI cancelled the license of Urban Co-operative Bank in Sitapur, Uttar Pradesh, effective from December 07, 2023, citing the cessation of banking activities.
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