As many as 12 cooperative banks have been liquidated since September 2021 after payment to depositors by Deposit Insurance and Credit Guarantee Corporation (DICGC)
RBI has cancelled the licence of Sarjeraodada Naik Shirala Sahakari Bank Ltd, Shirala, Dist. Sangli, Maharashtra. Consequently, the bank ceases to carry on banking business, with effe
The Reserve Bank of India (RBI) said on Wednesday that it has cancelled the licence of Maharashtra-based Sarjeraodada Naik Shirala Sahakari Bank Limited as it has failed to comply with the regulations and does not have adequate capital and earning prospects.
Every depositor with the bank would be entitled to receive deposit insurance claim amount up to Rs 5 lakh from DICGC on the bank's liquidation, stated RBI.