Case Brief
RBI, by order dated May 18, 2026, cancelled the licence of The Yashwant Co-operative Bank Ltd., Phaltan under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The bank was found to lack adequate capital and earning prospects, to be non-compliant with several statutory requirements, and to be in a financial position that would be prejudicial to depositors and public interest. As a consequence, it is prohibited from conducting banking business, including acceptance and repayment of deposits, with immediate effect, and the Registrar of Cooperative Societies, Maharashtra has been requested to initiate winding up and appoint a liquidator.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Phaltan, Maharashtra