Case Brief
The Reserve Bank of India has cancelled the banking licence of The Kalyan Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). This bars the bank from carrying on banking business and from accepting deposits or allowing withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Andhra Pradesh
- Order Date