<h1>Cancellation of banking licence halts bank operations and triggers winding up and deposit insurance claims</h1> Cancellation of the bank's licence for inadequate capital and earning prospects prohibits it from carrying on banking business, including accepting or repaying deposits. The registrar has been requested to wind up the bank and appoint a liquidator. Depositors are entitled to insurance compensation up to the prescribed limit under the deposit insurance scheme, with most depositors covered and partial payments already made.