RBI rejects licence application of The Kurnool Urban Co-operative Credit Bank Ltd. - RBI - Reserve Bank of India
80372636
Published on March 23, 2001
RBI rejects licence application of The Kurnool Urban Co-operative Credit Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Kurnool Urban Co-operative Credit Bank Ltd., (Andhra Pradesh) 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). 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.
N.L. Rao
Asst. Manager
Press Release : 2000-2001/1314
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