Case Brief
The Reserve Bank of India cancelled the licence of The Bellampalli Cooperative Urban Bank Ltd., Bellampalli, Andhra Pradesh, under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). The order precludes the bank from transacting the business of banking, including accepting deposits from the public and allowing withdrawals by cheque, draft, order or otherwise. This is a terminal regulatory action against the cooperative urban bank.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Bellampalli, Andhra Pradesh
- Order Date