RBI rejects licence application of Chapra District Central Co-operative Bank Ltd. - RBI - Reserve Bank of India
81301179
Published on February 14, 2002
RBI rejects licence application of Chapra District Central Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Chapra District Central Co-operative Bank Ltd., Bihar to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.
Ajit Prasad
Manager
Press Release : 2001-02/916
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