RBI cancels licence of Armoor co-operative Urban Bank Ltd. - ആർബിഐ - Reserve Bank of India
80392282
പ്രസിദ്ധീകരിച്ചത് സെപ്റ്റംബർ 09, 2002
RBI cancels licence of Armoor co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of Armoor Co-operative Urban Bank Ltd., Armoor, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.
P.V. Sadanandan
Manager
Press Release: 2002-03/272
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