The Reserve Bank on Tuesday said it has cancelled the licence of Ajantha Urban Co-operative Bank Maryadit, Aurangabad, as the lender does not have adequate capital and earning prospects.
Consequently, the bank ceases to carry on banking business, with effect from the close of business on Tuesday (April 22, 2025), the Reserve Bank of India (RBI) said in a statement.
The Registrar of Cooperative Societies, Maharashtra, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
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