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RBI cancelled licence of Sarjeraodada Naik Shirala Sahakari Bank

Reserve Bank of India has cancelled the license of Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra, as it did not have adequate capital and earning prospects.

Sumit Arora Published On March 4th, 2022 Leave a comment

Reserve Bank of India has cancelled the license of Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra, as it did not have adequate capital and earning prospects. With the cancellation of the licence, Sarjeraodada Naik Shirala Sahakari Bank Ltd has ceased to carry on banking business with effect from the close of business hours on 2 March. The bank is not complying with various sections of the Banking Regulation Act, 1949.

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On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Important takeaways for all competitive exams:

DICGC Chairperson: Michael Patra;
DICGC Founded: 15 July 1978;
DICGC Headquarters: Mumbai.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.