Mumbai, Apr 22 (PTI) 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. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, the RBI said 91.55 per cent of the depositors are entitled to receiving full amount of their deposits from DICGC. As on April 3, 2025, DICGC has already paid ₹275.22 crore of the total insured deposits. Giving reasons for cancellation of the licence of Ajantha Urban Co-operative Bank Maryadit, it said the bank with its present financial position would be unable to pay its present depositors in full; and public interest would be adversely affected if the lender is allowed to carry on banking business any further. Also, the continuance of the bank is prejudicial to the interests of its depositors. Consequent to the cancellation of its licence, Ajantha Urban Co-operative Bank Maryadit has been prohibited from conducting the business of ‘banking’, which includes, among other things, acceptance of deposits and repayment of deposits with immediate effect. 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.
The Reserve Bank of India (RBI) has revoked the license of Ajantha Urban Cooperative Bank Maryadit, which is located in Aurangabad.
