RBI cancels banking licence of Sangli-based Sarjeraodada Naik Shirala Sahakari Bank

The bank does not have adequate capital and earning prospects and has also failed to comply with various regulatory requirements. The bank with its present financial position would be unable to pay its present depositors in full. “ Public interest would be adversely affected if the bank is allowed to carry on its banking business any further” RBI said in a release.

from Banking/Finance-Industry-Economic Times https://ift.tt/XrTqsz7