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Bank of Russia revokes license of Taidon credit organisation

Original: небанковская кредитная организация

The Central Bank of Russia has withdrawn the banking licence of Taidon, a non-bank credit organisation. The move means the lender can no longer conduct banking operations. Russian news outlets are reporting the decision, drawing attention to the Central Bank's continued cleanup of the country's financial sector and what the closure means for the organisation's customers.

Why now: The Central Bank's withdrawal of a licence from a credit organisation affects depositors and signals ongoing regulatory tightening.

Central Bank of RussiaTaidon

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