RBI cancels Licence of The Merchant’s Co-operative Bank Ltd., Dist. Dhule, Maharashtra

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ties) read with Section 56 of Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of &#39;banking&#39; as defined in Section 5(b) of the Banking Regula....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion Act, 1949 (As applicable to Co-operative Societies) including acceptance/repayment of deposits. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....