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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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:
The famous TCS World 10k Bengaluru race will take place on 26 April 2026, and…
India lost a senior and respected political leader on April 8, 2026, as Mohsina Kidwai…
India has taken another strong step in boosting its defense power with the silent commissioning…
Banking services in India are taking a big step forward with the use of new…
India has taken another important step in strengthening its ties with neighboring countries. The Indian…
India is celebrating 11 successful years of the Pradhan Mantri Mudra Yojana (PMMY), a major…