Case Brief
The Reserve Bank of India requisitioned the Registrar of Co-operative Societies, Gujarat to wind up The Nayaka Mercantile Co-operative Bank Ltd., Nayaka, Dist. Kheda. In response, the Registrar appointed a liquidator for the bank. The release says the bank should not accept deposits from the public and should not allow withdrawals by cheque, draft, order or otherwise, indicating cessation of normal banking operations.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Nayaka, Gujarat
- Order Date