Company Information

Get to know Seva Vikas Co-operative Bank

The Seva Vikas Co-operative Bank Ltd. was an urban co-operative bank (UCB) that commenced its operations to provide banking services to its members in and around Pune, Maharashtra. It offered standard banking products like savings and current accounts, fixed deposits, and various loan products. However, due to severe financial mismanagement, inadequate capital, poor earning prospects, and non-compliance with sections of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) cancelled its license to conduct banking business, effective October 10, 2022.

Industry

Financial BankingPRIMARY
Financial Insurance
Financial Other Service

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Seva Vikas Co-operative Bank

India

Founded in

1971 (55 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Others

--/10

Reviews

25/90

1 review

Provided by TrustFinance

OVERALL SCORE

Others

--/10

Reviews

25/90

1 review

Provided by TrustFinance

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Markets.com

(326 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.