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Reserve Bank of India (RBI) on Wednesday cancelled Mantha Urban Cooperative Bank's licence citing inadequate capital and earning prospects and asked it to cease banking operations from February 16. RBI has requested Maharashtra's Cooperation Commissioner to issue an order for winding up the bank. The continuance of the bank is prejudicial to the interests of its depositors, RBI said.
short by Ashley Paul / 08:46 pm on 16 Feb
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