RBI cancels licence of Karad Janata Sahakari Bank
Mumbai, Dec 9: The RBI on Tuesday said it has cancelled the licence of The Karad Janata Sahakari Bank Ltd, Karad, Maharashtra, as it does not have adequate capital and earning prospects.
More than 99 per cent of the depositors of the bank will get full payment of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the Reserve Bank said in a statement.
With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of The Karad Janata Sahakari Bank will be set in motion.
On liquidation, every depositor is entitled to repayment of his/her deposits up to a monetary ceiling of Rs 5 lakh only from the Deposit Insurance and Credit Guarantee Corporation (DICGC) as per usual terms and conditions.
Consequent to the cancellation of its licence from close of business on December 7, the bank has been prohibited from conducting the business of 'banking' which includes acceptance of deposits and repayment of deposits with immediate effect.
Giving details, the RBI said the bank was under "all inclusive directions" since November 07, 2017. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The RBI said it cancelled the licence of the bank as it "does not have adequate capital and earning prospects". As such, it does not comply with the relevant provisions of the Banking Regulation Act, 1949.
"The continuance of the bank is prejudicial to the interests of its depositors," it said, and added the bank with its present financial position would be unable to pay its present depositors in full.
Also, public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
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NCW chief condemns rape-murder of 4-year-old girl in Pune, calls for swift action
New Delhi (PTI): National Commission for Women (NCW) Chairperson Vijaya Rahatkar has condemned the alleged rape and murder of a four-year-old girl in Maharashtra's Pune, calling it "deeply distressing" and a "blot on humanity".
The girl was allegedly raped and killed by a 65-year-old labourer, who has a criminal record, in Bhor tehsil of Pune on Friday. The accused allegedly lured the child to a cattle enclosure on the pretext of giving her food. After raping her, he killed her by hitting her with a stone, according to police.
The accused has been arrested.
In a post on X on Saturday, Rahatkar said the incident in the Nasrapur area in Pune was heartbreaking and has shaken society.
"The brutal torture and murder of a four-year-old innocent girl in Nasrapur (Bhor, Pune) is deeply painful, heartbreaking, and shocking. It is a blot on humanity," she said.
She said Pune Rural police has arrested the accused and noted that Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Sunetra Pawar have assured strict action in the case.
Rahatkar said the NCW has taken cognisance of the matter and written to the National Commission for Protection of Child Rights (NCPCR), requesting the body to ensure necessary and prompt action.
It has also been recommended that the case be pursued under stringent provisions of the Protection of Children from Sexual Offences (POCSO) Act and be closely monitored from the filing of the chargesheet to proceedings in a fast-track special court to ensure time-bound justice, she added.
Ensuring justice for the victim and stringent punishment for the accused is a collective responsibility, the NCW chairperson underlined.
In a post on X, the NCW said it has taken suo motu cognisance of the extremely "heinous" incident.
"This heinous crime causes profound pain and outrage, and it highlights serious concerns regarding the safety of young girls," it said.
Strongly condemning this grave "inhuman act", the NCW said such crimes constitute a serious violation of children's rights and raise questions about society's security system.
