MUMBAI, India, April 10 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI), vide order dated April 10, 2026, has cancelled the licence of "National Urban Cooperative Bank Ltd., Pratapgarh", under Section 22 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 10, 2026. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
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The bank does not have adequate capital and earning prospects. As such, it does not comp...