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RBI cancels Sarvodaya Co-operative Bank license as operations end May 12 2026
Economy
Published on 12 May 2026
Bank activities stop on a single fixed date
The Reserve Bank of India has cancelled the licence of Mumbai-based Sarvodaya Co-operative Bank after finding weak capital and deteriorating revenue ability. All banking operations will stop from May 12, 2026. To protect depositors, clients can claim deposit insurance coverage up to Rs 5 lakh, helping limit the fallout for customers.
- RBI cancelled Sarvodaya Co-operative Bank licence
- Weak capital and declining revenue capabilities cited
- All banking operations will halt from May 12, 2026
- Deposit insurance claims capped at Rs 5 lakh
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times