The RBI, in a statement, said it had noticed that certain persons were representing themselves as promoters of National Urban Cooperative Bank Ltd, Delhi.

They were falsely declaring that their board of directors consisted of three officers from the RBI and five officers from the Delhi government, thus creating a false impression among the public that they have the approval of the RBI and the government.

The promoters were also selling equity shares to members of public and thus wrongfully gaining monetary benefit. They had also called for applications for appointment against 465 vacancies belonging to different categories of staff with certain amount as application fees.

The RBI had, therefore, informed that the said cooperative bank was not even registered as a society with the registrarof cooperative societies, Delhi, and as such was not yet eligible to approach the RBI for grant of licence to carry on the banking business.

Members of public should be cautious and not have any dealings with the cooperative bank, the RBI said.