RBI cancels banking licence of Adoor Co-operative Urban Bank
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
New Delhi: The Reserve Bank cancels the banking licence granted to Adoor Co-operative Urban Bank Ltd, Adoor, Kerala and allows it to function as a non-banking institution.
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 36 A(2) read with Section 56 of the Banking Regulation Act, 1949.
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