Question
The Reserve Bank of India (RBI) cancelled the licence of
Shirpur Merchants’ Co-operative Bank Limited in April 2026. This bank is located in which Indian state?Solution
In April 2026, the Reserve Bank of India (RBI) cancelled the licence of Maharashtra’s Shirpur Merchants’ Co-operative Bank Limited over inadequate capital and poor earning prospects, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The co-operative bank ceased all banking activities from the close of business on April 6, 2026.
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