Reetu | Sep 15, 2023 |

Mahalaxmi Cooperative Bank ceased to be a Co-operative Bank

The Reserve Bank of India (RBI) has notified that Mahalaxmi Cooperative Bank ceased to be a Co-operative Bank via issuing Notification.

The Notification Stated as, “In exercise of the powers conferred under Section 36 A (2) read with Section 56 of the Banking Regulation Act, 1949, Reserve Bank of India hereby notifies that ‘Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka’ has ceased to be a co-operative bank within the meaning of the said Act and all the provisions of the said Act applicable to the Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka shall cease to apply to it, except as respects things done or omitted to be done before this notice. ”

For Official Notification Download PDF Given Below:

Download Notification

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Tags: Banking Regulation Act 1949, Cooperative Bank, News, RBI, RBI Notification, Reserve Bank of India

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Name: Reetu

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Reetu is a Content Writer with 3+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM(Honrs.) Graduate.

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