Reserve Bank of India (RBI) is satisfied to notify The Ananthasayanam Co-operative Bank Ltd., Trivandrum as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated December 19, 1987, granted to The Ananthasayanam Co-operative Bank Ltd., Trivandrum, 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 September 21, 2023. This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum 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 Ananthasayanam Co-operative Bank Ltd., Trivandrum shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.

(Shweta Sharma)      
Deputy General Manager

Press Release: 2023-2024/965