A banking licence cancellation has led to removal from a list of recognised banks. The licence was cancelled due to non-compliance with certain norms. This cancellation was made because the bank's affairs were not in the best interest of its depositors.

A court order was also issued for the bank to be wound up. The central bank has now excluded the bank from its schedule.

Further details are available from the source, including the timing of a notification and its publication in an official gazette.