RBI cancels license of Tandur Mahila Co-operative Urban Bank

In view of the fact that the operations of the Tandur Mahila Co-operative Urban Bank Ltd., Tandur (Andhra Pradesh), were practically defunct with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order dated August 22, 2011 canceling its license to the bank after the close of business on August 30, 2011.

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