RBI cancels licence of Aurangabad-based Ajantha Urban Co-op Bank Maryadit:

Daily Current Affairs / RBI cancels licence of Aurangabad-based Ajantha Urban Co-op Bank Maryadit:

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Category : Business and economics Published on: April 25 2025

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The Reserve Bank 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 (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.