RBI cancels licence of Shree Labh Co-operative Bank Ltd. - ربی - Reserve Bank of India
79530837
شائع کیا گیا پر اگست 07, 2002
RBI cancels licence of Shree Labh Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence of Shree Labh Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.
P V Sadanandan
Manager
Press Release: 2002-03/139
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