Mumbai, Apr 16 (PTI) The Reserve Bank on Wednesday said it has cancelled the licence of Ahmedabad-based ‘Colour Merchants Co-operative Bank’ as the lender does not have adequate capital and earning prospects. Registrar of Cooperative Societies, Gujarat, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank, the Reserve Bank of India (RBI) said in a statement. On liquidation, every depositor would be entitled to receive the deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5 lakh only from the Deposit Insurance and Credit Guarantee Corporation (DICGC). RBI further said as per the data submitted by the co-operative bank, about 98.51 per cent of the depositors are entitled to receive full amount of their deposits from DICGC. As of March 31, 2024, DICGC has already paid ₹13.94 crore of the total insured deposits based on the willingness received from the concerned depositors of the bank. Giving reasons behind cancellation of the licence, RBI said the bank does not have adequate capital and earning prospects. The cooperative bank has also failed to comply with certain requirements under the Banking Regulation Act. “The continuance of the bank is prejudicial to the interest of the depositors. The bank with its present financial position would be unable to pay its present depositors in full,” the RBI said. RBI also said that public interest would be adversely affected if the bank is allowed to carry on its banking business any further. Following the cancellation of the licence, the co-operative bank ceases to carry on banking business with effect from the close of business on Wednesday (April 16, 2025). The banking business includes, among other things, acceptance of deposits and repayment of deposits. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.