The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd., Cuddalore, Tamil Nadu

RBI notified The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd. as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Consequently, RBI cancelled the licence dated March 21, 2000 granted under Section 22 read with Section 56 to carry on banking business in India, effective from the close of business on February 6, 2025. The release also directs the entity to stop conducting banking business, including acceptance of deposits from non-members, with immediate effect, and to repay unpaid and unclaimed deposits of non-members whenever demanded.

The entity can no longer operate as a bank and must immediately stop banking कारोबार, including accepting deposits from non-members. It remains obligated to repay unpaid and unclaimed deposits of non-members on demand, even after being treated as a non-banking institution. The effective cancellation date is the close of business on February 6, 2025, with the operating prohibition taking effect immediately.