Case Brief
The Reserve Bank of India found that Prithvi Credit Co-operative Society Limited, Lucknow, was displaying false statements on its website suggesting that RBI had issued an NOC for converting the society into a multistate cooperative bank. RBI clarified that it had issued no such NOC and stated that the society had wrongly quoted an RBI letter dated February 08, 2017. RBI advised the society to immediately delete the false and misleading statements from its website and publish a corrigendum clarifying the correct position.
Action Snapshot
- Primary Impact
- Cease and desist
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date