TaxTMI 
TaxTMI 
RBI cancels Licence of The Merchant’s Co-operative Bank Ltd., Dist. Dhule, Maharashtra
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....BI cancels Licence of The Merchant’s Co-operative Bank Ltd., Dist. Dhule, Maharashtra <br>News and Press Release<br>Dated:- 3-9-2014<br><BR>The Reserve Bank of India has, on August 27, 2014, cancell....
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....ed the licence of The Merchant's Co-operative Bank Ltd., Dist. Dhule, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Socie....
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....ties) read with Section 56 of Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regula....
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....tion Act, 1949 (As applicable to Co-operative Societies) including acceptance/repayment of deposits. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....