Case Brief
The Reserve Bank of India cancelled the licence granted to The Mira Bhayandar Co-operative Bank Ltd., Bhayandar (Maharashtra), for carrying on banking business in India. The cancellation means the co-operative bank is no longer permitted to transact banking business under the Banking Regulation Act, 1949 (as applicable to co-operative societies), including accepting deposits from the public and permitting withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Bhayandar, Maharashtra
- Order Date