Kerala govt writes to RBI to withdraw caution notice on use of word 'bank' by co-op societies

In November, the RBI cautioned the public against co-operative societies using 'bank' in their names as well as accepting deposits from people who are not their members. The RBI had said in a statement that it has come to notice that some cooperative societies are using the word 'bank' in their names in violation of the Banking Regulation Act.

from Banking/Finance-Industry-Economic Times https://ift.tt/3m5tTQl