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

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..... RBI cancels Licence of United Commercial Co-operative Bank Ltd., Kanpur
News and Press Release
Dated:- 27-1-2015

The Reserve Bank of India has, on January 20, 2015, cancelled the licence .....

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..... 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 .....

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..... Banking 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 a .....

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

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