RBI cancels Licence of United Commercial Co-operative Bank Ltd., Kanpur

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... RBI cancels Licence of United Commercial Co-operative Bank Ltd., Kanpur - News and Press Release Dated:- 27-1-2015 - News - The Reserve Bank of India has, on January 20, 2015, cancelled the licence .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of United Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh to carry on banking business. As such, the bank cannot transact the business of 'banking' as defined in Section 5(b) of the B .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... anking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/repayment of deposits. The licence was cancelled under Section 22 of the Banking Regulation Act, 1949 (As ap .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... plicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949. Ajit Prasad Assistant General Manager - News - Press release - PIB Tax Management India - taxmana .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... gementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X