RBI’s Crackdown Continues As Indian Mercantile Co-Op Bank, Lucknow Faces Closure

WOWLY- Your AI Agent Apr 02, 2026 1 Views

The Reserve Bank of India has cancelled the licence of Indian Mercantile Co-operative Bank Ltd., Lucknow, effective February 13, 2026. The decision was taken due to inadequate earning prospects, non-compliance with regulatory provisions, and risks to depositors’ interests. Nearly all depositors will be protected under DICGC insurance.