India, Oct. 8 -- The Reserve Bank of India (RBI) has cancelled the banking licence of Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra, with effect from the close of business on October 7, 2025, as per its order dated October 6, 2025.
The bank's licence had earlier been cancelled on June 30, 2016, but was restored on October 23, 2019, following an appeal. The Appellate Authority had directed a forensic audit for FY 2013-14 to assess the bank's financial position. However, the audit could not be completed due to non-cooperation by the bank, and RBI noted a continued deterioration in its financial health.
The licence cancellation was necessitated on multiple grounds: the bank lacked adequate capital and earning prospects, failed to c...