RBI launches website to explain detection of fake currency

RBI governor D Subbarao emphasised the need to educate people on ways to distinguish fake...

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RBI launches database on branches of banks

“Bank Branch Locator” is a dynamic database that gives information on location, population...

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Nashik bank seals school for loan recovery

The NAMCO bank provided loan to Dr Baliram Hiray Higher Secondary School. linked with a NCP leader from Nashik, in 1998 for construction of a building

Nashik: The Nashik Merchants' Co-operative Bank (Namco) has sealed a school for its alleged failure in repaying loan of Rs 56 lakh, sources told PTI on Wednesday.

 

Dr Baliram Hiray Higher Secondary School is run by Anand Education Sanstha that is linked to Nationalist Congress Party (NCP) leader and Nashik's former Member of Parliament (MP) Devidas Pingale.

 

The bank had provided a loan to this educational institute in 1998 for construction of a building.

 

The bank had earlier put the organisation in defaulters' list and issued notices against it.

 

"We have sealed eleven classrooms and the head master's office yesterday as per order of Nashik collector," bank sources said.

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