Caution against various Co-operative societies using the word “Bank” in their names

Last updated: 24 November 2021
 Notice Date : 22 November 2021
The Banking Regulation Act, 1949 (BR Act, 1949) was amended by the Banking Regulation (Amendment) Act, 2020 (Act 39 of 2020) which came into force on September 29, 2020. Accordingly, co-operative societies cannot use the words bank, banker or banking as part of their names, except as permitted under

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