Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Reserve Bank of India cancels the licence of Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District, Karnataka
RBI
On July 5, 2024, the RBI canceled the license of “Shimsha Sahakara Bank Niyamitha” in Karnataka due to inadequate capital, non-compliance with banking regulations, and harm to depositors' interests. The bank ceased operations, and the Registrar of Cooperative Societies has been asked to appoint a liquidator. Depositors are entitled to insurance claims up to ₹5 lakh from the DICGC, which has already paid ₹11.85 crore.
