The Reserve Bank of India (RBI) has cancelled the certificate of registration of Rajasthan-based Sumerpur Mercantile Urban Cooperative Bank Ltd due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 28 February 2024.
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India , Sumerpur , Uttar Pradesh , , Sumerpur Mercantile Urban Cooperative Bank Ltd , Credit Guarantee Corporation , Sumerpur Mercantile Urban Cooperative Bank , Reserve Bank , Banking Regulation , Deposit Insurance , Guarantee Corporation ,
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