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RBI cancels Arjun Urban Co-Op Bank’s licence

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May 23, 2013 3:40 IST | India Infoline News Service
The Reserve Bank of India (RBI) cancelled the licence of Solapur-based Arjun Urban Co-Operative Bank to carry on banking business.

“The Reserve Bank of India has cancelled vide order dated May 21, 2013, the licence of Arjun Urban Co-Operative Bank Ltd. Dist. Solapur, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949, the RBI said in an order on Tuesday.

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