Co-operative societies can't use 'bank' in their names: RBI

After the amendment in the Banking Regulation Act, 1949, effective September 29, 2020, co-operative societies cannot use the words "bank", "banker" or "banking" as part of their names, except as permitted under the provisions or by the Reserve Bank of India (RBI).

from Banking/Finance-Industry-Economic Times https://ift.tt/3x90Orw