Case Brief
The Reserve Bank of India has cancelled the banking licence of The Partur Peoples' Co-operative Bank Ltd., Partur, Dist. Jalna, Maharashtra, under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). The order prevents the bank from transacting banking business and specifically bars it from accepting public deposits or allowing withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Partur, Maharashtra
- Order Date