RBI cancels Licence of Shri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra

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..... RBI cancels Licence of Shri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra
News and Press Release
Dated:- 17-6-2014

The Reserve Bank of India has cancelled the licence of Sh .....

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..... ri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Sec .....

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..... tion 56 of Banking Regulation Act, 1949. The licence has been cancelled vide the Reserve Bank's order UBD.CO.BSD I/LC No. 09/12.22.249/2013-14, dated June 12, 2014. As such, the bank is precluded fort .....

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..... hwith from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/repayment of dep .....

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..... osits. Ajit Prasad Assistant General Manager
News - Press release - PIB .....

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