Gauhati HC: Notice Issued to Centre on Plea Claiming Denial of ST Benefits to Yobin Community  ||  Delhi HC: Dispute between Author, Manikarnika Films and Netflix Referred to Mediation  ||  Bombay HC: A Woman Who Says 'No' Means 'No'  ||  Chh. HC: Adoptive Mothers Have Fundamental Right to Life & Motherhood Under Article 21 of COI  ||  Delhi HC: Wikimedia Foundation Withdraws its Appeal Against ANI  ||  SC Sets Out Procedure for Verification of Electronic Voting Machines  ||  Supreme Court: NCLAT Cannot Condone Appeal Filed beyond 45 Days  ||  SC: Not Necessary to Establish Guilt Beyond Reasonable Doubt to Summon Additional Accused  ||  SC: Courts Should Refrain from Interfering With Invocation of Bank Guarantee Except in Cases of Fraud  ||  SC: Courts Should Refrain from Interfering With Invocation of Bank Guarantee Except in Cases of Fraud    

Cancellation of banking licence of Adoor Co-operative Urban Bank Ltd., Adoor, Kerala- (Reserve Bank of India) (25 Apr 2023)

MANU/RPRL/0237/2023

Banking

Reserve Bank of India (RBI) is satisfied to notify The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala as a non-banking Institution under Section 36A(2) read with section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the banking licence dated January 03, 1987 granted to The Adoor Co-operative Urban Bank Ltd., Adoor, Kerala to carry on banking business in India under Section 22 read with section 56 of the Banking Regulation Act, 1949 with effect from the close of business on April 24, 2023. This makes it obligatory on the part of The Adoor Co-operative Urban Bank Ltd., Adoor to stop conducting the business of 'banking' within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, The Adoor Co-operative Urban Bank Ltd., Adoor, shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.

Tags : BANKING LICENCE   CANCELLATION   NOTIFICATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved