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

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....BI cancels Licence of United Commercial Co-operative Bank Ltd., Kanpur <br>News and Press Release<br>Dated:- 27-1-2015<br><BR>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 &#39;banking&#39; as defined in Section 5(b) of the B....

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....anking 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 ap....

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