Cancellation of licence of Kokan Prant Sahakari Bank Ltd, Mumbai, Maharastra To carry on banking business

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....ancellation of licence of Kokan Prant Sahakari Bank Ltd, Mumbai, Maharastra To carry on banking business <br>News and Press Release<br>Dated:- 8-10-2013<br><BR>It is hereby notified for the informatio....

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....n of the public that the Reserve Bank of India has cancelled vide order UBD.CO.BSD I/LC No. 6/12.22.114/2013-14, dated September 30, 2013, the licence of Kokan Prant Sahakari Bank Ltd, Mumbai, Maharas....

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....tra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949. As such, the bank ....

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....is precluded 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 depos....

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....its, forthwith. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....