CLOSED
NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%
Home/Business/Banking/RBI Cancels License of Shirpur Bank; Dep…

RBI Cancels License of Shirpur Bank; Depositors Insured

Banking
By ThePip Desk•
Add as a preferred source on Google
Close-up of the Reserve Bank of India and DICGC logos on a stone building, with a fence and trees in the background.

RBI and DICGC logos on a building wall.

Key Highlights

RBI cancels The Shirpur Merchants’ Co-operative Bank’s license due to insufficient capital. Depositors insured up to Rs 5 lakh by DICGC. Operations cease April 6, 2026.

The Reserve Bank of India has cancelled the licence of The Shirpur Merchants’ Co-operative Bank, citing insufficient capital and a lack of future earning potential.

The bank will be required to cease all banking operations starting from April 6, 2026.

According to the RBI, depositors will receive their insured amounts up to Rs 5 lakh from DICGC (Deposit Insurance and Credit Guarantee Corporation).

DICGCReserve Bank of India