Mumbai, April 6 (IANS) The Reserve Bank of India on Monday cancelled the licence of Shirpur Merchants’ Co-operative Bank, citing inadequate capital and poor earning prospects, effectively bringing an end to its banking operations.In a statement, the central bank said the lender will cease all banking activities from the close of business on April 6, 2026.The RBI added that the bank’s current financial position makes it unable to fully repay its depositors and allowing it to continue operations…
Latest Deposit Insurance and Credit Guarantee Corporation News & Updates
New Delhi, Feb 10 (IANS) The government and the Reserve Bank of India (RBI) have taken various measures to strengthen cooperative banks’ financial health, governance and digital inclusion, along with enhancing deposit security, credit availability and prudent regulation, the Parliament was informed on Tuesday. The Central Bank, in consultation with the Centre, announced that loans sanctioned by banks to the National Cooperative Development Corporation (NCDC) from January 19, 2026, for on-lendi…