ENA Economy 2017-02-14 04:41:23 <p><strong>Mumbai, Feb 14 (KNN) </strong>Reserve Bank of India (RBI) has cancelled the licence of Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra, after which the bank has been prohibited from carrying any banking business.</p> <p>In a press release, RBI said, The Reserve Bank of India has cancelled vide order dated February 01, 2017 the licence of Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra to carry on banking business under section 22 of the Banking Regulation Act, 1949.</p> <p>It said the bank is precluded from transacting the business of banking as defined under Section 5 (b) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) including acceptance / repayment of deposits, from the close of business of February 07, 2017.</p> <p>Last week, RBI had cancelled certificate the banking licence of The State Transport Employees Co-operative Bank Ltd., Ahmedabad (Gujarat) after which the bank has been barred from transacting the business of Banking. <strong>(KNN Bureau)</strong></p> 16447 http://knnindia.co.in/news/newsdetails/economy/rbi-cancels-licence-of-pune-based-shri-chhatrapati-urban-co-operative-bank-ltd 2017-02-14 04:41:23 knnindia.co.in