RBI cancels licence of Rajasthan-based Sumerpur Mercantile Urban Cooperative Bank
New Delhi [India], February 28 (ANI): The Reserve Bank of India (RBI) has cancelled the licence of Sumerpur Mercantile Urban Cooperative Bank Limited, Sumerpur, in Rajasthan's Pali district. Consequently, the bank ceases to carry on banking business, with effect from the close of business today.
The Registrar of Cooperative Societies, Rajasthan has also been requested to issue an order for winding up the bank and appoint