Case Brief
The Reserve Bank of India cancelled the licence of Sitara Co-operative Urban Bank Ltd., Baghlingampally, Hyderabad (Andhra Pradesh). The cancellation prevents the bank from carrying on banking business under the Banking Regulation Act, 1949 (as applicable to co-operative societies) and bars it from accepting public deposits or permitting withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Andhra Pradesh
- Order Date