Case Brief
The Reserve Bank of India cancelled the banking licence of Shri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra under Section 22 of the Banking Regulation Act, 1949 read with Section 56. As a result, the bank cannot carry on the business of banking anymore, including acceptance and repayment of deposits, effective forthwith from the date of the order.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Gadhinglaj, Kolhapur, Maharastra
- Order Date