The Reserve Bank of India cancelled the licence of The Hiriyur Urban Co-operative Bank Ltd in Karnataka, on January 12.
“The (RBI), vide order dated January 12, 2024, has cancelled the licence of “The Hiriyur Urban Co-operative Bank Ltd., Hiriyur”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on January 12, 2024,’‘ said a bank statement.
Accordingly, the Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank. and appoint a liquidator for the bank.
