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MUMBAI: The RBI has cancelled the banking licence of the Hyderabad-based Vijaya Cooperative Urban Bank Ltd (For Women).

The bank is prohibited from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be allowed to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.

More Stories on : Co-operatives | RBI & Other Central Banks

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