Case Brief
RBI has reiterated that its July 05, 2024 Speaking Order cancelling the banking licence of Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District, Karnataka stands revived after the related writ petition was dismissed as withdrawn by the Karnataka High Court on February 17, 2026. As a result, the bank is prohibited with immediate effect from carrying on banking business under Section 5(b) read with Section 56 of the Banking Regulation Act, 1949, as well as other business under Section 6 of the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Maddur, Karnataka
- Order Date