RBI cancels licence of Abhinav Sahakari Bank

 

The Reserve Bank of India (RBI) in an order dated February 1, 2013 has cancelled the licence of Abhinav Sahakari Bank Ltd in Rahuri, Ahmednagar, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). 



Abhinav Sahakari Bank is precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/ repayment of deposits, forthwith.

Rate this post






+Admin


Leave a Reply

Your email address will not be published. Required fields are marked *