Mumbai: The RBI on Tuesday cancelled the licence of two cooperative banks — Sri Sharada Mahila Co-operative Bank, Tumkur, Karnataka and Harihareshwar Sahakari Bank, Wai, Satara — as.
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The RBI on Tuesday cancelled the licence of two cooperative banks Sri Sharada Mahila Co-operative Bank, Tumkur, Karnataka and Harihareshwar Sahakari Bank, Wai, Satara as the lenders do not have adequate capital and earning prospects. Harihareshwar Sahakari Bank ceases to carry on banking business, with effect from the close of business on July 11, 2023, the Reserve Bank of India (RBI) said in a statement.