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.
Points to Note:
- RBI cancelled the license of Sarjeraodada Naik Shirala Sahakari Bank
- Bank is based in Sangli, Maharashtra
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