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

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....BI cancels Licence of Shri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra <br>News and Press Release<br>Dated:- 17-6-2014<br><BR>The Reserve Bank of India has cancelled the licence of Shr....

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....i 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 Sect....

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....ion 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 forth....

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....with from transacting the business of &#39;banking&#39; as defined in Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/repayment of depo....

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....sits. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....