![RBI cancels licence of Shri Anand Co-operative Bank due to lack of capital RBI cancels licence of Shri Anand Co-operative Bank due to lack of capital](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5A16-_38agJTvaiyUD3XbUxBK4F6p0stzMaqyWFHRGK3m-lGViYXTKYT-FjJtcygi54v71bU7wblgdoKw2Vl7KXaPxl6L1hYGf8g5QnhVt6yMA-9YHoLfZ-BXq4IvZ9_sRY4dSLMs5s1Jpv_VTPQRGdybQWrDxytG5gfMihoY1k4j7ShnHNsKyBNBog/w320-h173-rw/Licence.jpg)
- It does not comply with the provisions of the Banking Regulation Act, 1949.
- Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has been asked to issue an order for winding up the bank and appoint a liquidator for the bank.
- Every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC.
- More than 99 percent of the depositors are entitled to receive the total amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).