The Reserve Bank said on Wednesday that the bank licenses of two cooperative banks operating in Maharashtra and Karnataka have been cancelled. In two separate statements, the RBI said it has canceled the banking licenses of Buldhana-based Malkapur Urban Co-operative Bank Ltd and Bengaluru-based Sushruti Souhard Sahakar Bank Regular.According to the statement, after the close of business on Wednesday, these two co-operative banks will not be able to do any kind of bank related work.The central bank has taken this step considering the lack of adequate capital and income potential with these cooperative banks.
