Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC  ||  Delhi High Court: Elective Surgery Does Not Bar Grant of Interim Bail on Medical Grounds  ||  Delhi HC: Consensual Romance With Minor Nearing 18 May be Considered For Bail in POCSO Case  ||  Delhi HC: Not Named In FIR Doesn’t Matter If Financial Links Show Active Role in NDPS Offence  ||  Chhattisgarh HC: Rape is an Affront to Womanhood and a Brutal Violation of The Right To Life  ||  Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities  ||  Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged  ||  Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act  ||  Delhi HC: Unmarried Granddaughter’s Limited Estate Can Become Absolute if Pre-Existing Right  ||  MP High Court: Labour Laws are Beneficial, and Hyper-Technical Limitation Views Must be Avoided    

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