Case Brief
RBI rejected the banking licence application of The Haliyal Urban Co-operative Bank Ltd. after concluding that the bank had ceased to be solvent, revival attempts had failed, and no viable turnaround plan existed. The bank had been under rehabilitation for years, had not complied with licensing norms, and its condition continued to deteriorate despite supervisory instructions. Following the rejection, RBI requested the Registrar of Co-operative Societies, Karnataka to initiate winding up and appoint a liquidator.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Haliyal, Karnataka
- Order Date