Allahabad High Court : Deceased Farmer’s Odd Jobs Don’t Bar Family from Scheme Benefits  ||  Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts  ||  Daughter Can’t Claim Mitakshara Father’s Property if He Died Pre-1956 & Son Survives: HC  ||  Gujarat High Court: Sessions Court Can’t Suspend Sentence Just to Allow Revision Filing  ||  Delhi High Court: Non-Combat Security Roles Crucial; Minor Lapse Risks National Safety  ||  Punjab & Haryana HC: Allegation of Harassment Alone Insufficient to Prove Abetment to Suicide  ||  Orissa HC: Directors Liable under S.138 NI Act Despite Company’s Insolvency  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act  ||  Chhattisgarh HC: Timely Appointment of Electronic Evidence Examiners Vital in Cyber Crime Probes  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act    

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