SC: Appeal U/S 374 CrPC/415 BNSS is Not Maintainable Against Sessions Court's Reversal of Acquittal  ||  SC Asked the Centre to Promote Awareness About the Consequences of Driving With an Expired Licence  ||  SC Explains How a Deceased Christian Wife's Property Devolves under the Indian Succession Act  ||  Supreme Court: Reach Stacker isn't a Motor Vehicle; MACT Claim Not Maintainable  ||  Supreme Court: Lift Makers, Operators and Owners Share Responsibility for User Safety  ||  Patna HC: Pressure to Sign Divorce and Child Custody does not Amount to Cruelty  ||  Bombay HC: Externment under the Police Act Requires Satisfaction About a Gang's Activities  ||  Bombay HC: False Travel Distance Claim Alone Doesn't Constitute Misappropriation  ||  J&K&L High Court: Interest on Delayed Gratuity is Not a Mandatory Pre-Deposit For an Appeal  ||  Meghalaya HC: Meritorious Candidate Cannot Be Denied Admission For a Two-Minute Delay    

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 2026 - All Rights Reserved