RBI cancels Licence of The Merchant’s Co-operative Bank Ltd., Dist. Dhule, Maharashtra

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..... RBI cancels Licence of The Merchant’s Co-operative Bank Ltd., Dist. Dhule, Maharashtra
News and Press Release
Dated:- 3-9-2014

The Reserve Bank of India has, on August 27, 2014, cancelle .....

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..... d the licence of The Merchant's Co-operative Bank Ltd., Dist. Dhule, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societ .....

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..... ies) read with Section 56 of Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulat .....

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..... ion Act, 1949 (As applicable to Co-operative Societies) including acceptance/repayment of deposits. Ajit Prasad Assistant General Manager
News - Press release - PIB .....

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