Case Brief
The Reserve Bank of India has cancelled the licence of Yeshwant Sahakari Bank Ltd., Mumbai, Maharashtra. The cancellation prevents the bank from carrying on banking business under the Banking Regulation Act, 1949 (as applicable to co-operative societies). The bank is therefore not permitted to accept public deposits or allow withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra
- Order Date