RBI Cancels the Licence of Abhinav Sahakari Bank Ltd., Rahuri Dist. Ahmednagar, Maharashtra for carrying on banking business

It is hereby notified for the information of the public that the Reserve Bank of India vide order dated February 1, 2013 has cancelled the licence of Abhinav Sahakari Bank Ltd., Rahuri, Dist. Ahmednagar, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). As such, the bank is precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/ repayment of deposits, forthwith.

Ajit Prasad
Assistant General Manager

Press Release : 2012-2013/1369