Case Brief
The Reserve Bank of India cancelled the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra, by order dated May 28, 2021. RBI said the bank lacked adequate capital and earning prospects, failed to meet several requirements of the Banking Regulation Act, 1949, and that continuing its operations would be prejudicial to depositors and public interest. RBI also asked the Registrar of Cooperative Societies, Maharashtra to initiate winding-up and appoint a liquidator.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date