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The Economic Times
The Economic Times

RBI cancels licence of Mumbai-based Sarvodaya Co-operative Bank

RBI Mumbai Reserve Bank DICGC Insurance

Mumbai: The Reserve Bank on Tuesday cancelled the licence of city-based Sarvodaya Co-operative Bank due to a lack of adequate capital and earning prospects.

Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 12, 2026, it said in a statement.

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