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.