RBI cancels license of Shivajirao Patil Nilangekar Urban Co-operative Bank

• RBI has cancelled the license of Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Limited, Nilanga, Latur district, Maharashtra.

• Bank ceases to carry on banking business with Effect from the close of business on July 14, 2021.

• RBI cancelled the license of the bank as the bank Does not have adequate capital and earning Prospects and does not comply with the provisions Of section 11(1) and section 22 (3) of the Banking

Regulation Act, 1949.

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