Case Brief
RBI cancelled the licence of The Sai Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh, under Section 22 of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The cancellation precludes the bank from transacting the business of banking, including accepting deposits from the public and allowing withdrawals by cheque, draft, order, or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Andhra Pradesh
- Order Date