Case Brief
The Reserve Bank of India cancelled the licence of Pratibha Mahila Sahakari Bank Ltd., Jalgaon, Dist. Jalgaon (Maharashtra), by order dated February 25, 2003. The cancellation means the co-operative bank is precluded from transacting banking business under the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), and it cannot accept deposits from the public or permit withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Jalgaon, Maharashtra
- Order Date