RBI cancels Mumbai's Sarvodaya Co-operative Bank license for capital shortfall
NewsBytes | May 12, 2026 11:39 PM CST
Sarvodaya Co-operative Bank halts deposits, withdrawals
Sarvodaya can no longer accept deposits or let you withdraw money.
If you had money there, don't panic. 98.36% of depositors are covered by insurance and can claim up to ₹5 lakh through DICGC, with ₹26.72 crore already disbursed toward insured deposits.
This is part of the RBI's push to keep urban co-op banks safer for everyone.
READ NEXT
-
Matthew Perry drug dealer jailed after selling fatal ketamine dose to Friends star
-
Virat Kohli Shines with Century as RCB Triumphs Over KKR in IPL 2026
-
Rahane Reflects on KKR's Defeat and Kohli's Stellar Performance
-
Debunking the Viral Image of Trump's Statue Vandalism
-
Emmerdale welcomes two new arrivals in major Tate and Sugden shake-up
