banking

Cancellation of licence to carry on banking business in India – The Municipal Co-op. Bank Ltd., Ahmedabad

In view of the fact that The Municipal Co-operative Bank Ltd., Ahmedabad (Gujarat) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India (RBI) delivered the order cancelling its licence to …

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