India, Feb. 13 -- The Reserve Bank of India (RBI), vide order dated February 11, 2026, has cancelled the licence of "Indian Mercantile Co-operative Bank Ltd., Lucknow", 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 February 13, 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:The bank has inadequate earning prospects. As such, it does not comply with the provisions of Section 22 (3) (d) read with Section 56 of the Banking Regulati...