August 25, 2026 12:02 pm (IST)
Follow us:
RBI cancels licence of Jijamata Mahila Sahakari Bank Limited of Satara
Mumbai, Jul 5 (IBNS): The Reserve Bank of India (RBI) announced on Monday that it has cancelled the licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra to carry on banking business.
The order was issued on June 30 under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949.
As such, the bank is forthwith precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) including acceptance / repayment of deposits, the release said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
TCS, Porsche join forces in major AI move to transform mobility
Tue, Aug 25 2026
Tata Power Renewables marks a major milestone with the commissioning of 190.5 MW FDRE project in Rajasthan. All details inside
Mon, Aug 24 2026
Samsung's big AI push in India: New Pune facility to power next-gen data centre cooling
Mon, Aug 24 2026
Best Indicators For Futures Trading
Mon, Aug 24 2026
China orders massive EV recall: Nearly 3 million Teslas among 4.3 million vehicles affected
Mon, Aug 24 2026
Yes Bank launches ‘YES Essence’ for women. How can you avail it?
Fri, Aug 21 2026