Supreme Court: Registered Sale Deed Carries Strong Presumption of Genuineness  ||  SC: Registry Cannot Intrude Into Judiciary’s Exclusive Domain By Questioning Why a Party is Impleaded  ||  Calcutta HC: Third-Party Suits in a Deity’s Name are Allowed Only When The Sebait Loses Authority  ||  Madras HC: Encroachment on a Public Street Cannot be Allowed Even If It Has a Religious Character  ||  Karnataka HC: Bike Taxi Business Protected under Article 19(1)(G); State Can Regulate But Not Ban  ||  Allahabad HC: Not Specifying Arrest Grounds in Memo is Dereliction; Erring Cops Must be Suspended  ||  Del. HC Stresses Mandatory Legal Assistance to Preserve Fairness and Integrity of Criminal Trials  ||  Supreme Court: Delhi High Court Ruling upheld on Taekwondo National Sports Federation Recognition  ||  SC: Blockchain-Based Digitisation of Land Records Necessary to Reduce Property Document Litigation  ||  Supreme Court to NCLT : Limit Power to Decide Intellectual Property Title Disputes under IBC    

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