Latest Shirpur Merchants’ Co-operative Bank News & Updates

RBI Cancels License of Shirpur Merchants’ Co-operative Bank

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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…