Mumbai, May 19 (IANS) The Reserve Bank of India (RBI) on Tuesday cancelled the licence of The Yashwant Co-operative Bank, Phaltan, Maharashtra, as the lender does not have adequate capital and earning prospects.Consequent to the cancellation of its licence, Yashwant Co-operative Bank is prohibited from conducting the business of banking with effect from the close of business on May 19, 2026, the RBI said in a statement.The Commissioner for Cooperation and Registrar of Cooperative Societies, Maha…
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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…