Shri P.K. Anna Patil Janata Sahakari Bank Ltd

RBI cancelled the licence of Shri P.K. Anna Patil Janata Sahakari Bank Ltd., Nandurbar, Maharashtra, after finding it insolvent and beyond revival. The bank has been directed toward winding up and liquidation.

The bank can no longer carry on banking business, including accepting or repaying deposits, and liquidation proceedings are to commence. Depositors will be paid subject to the Deposit Insurance Scheme, up to the applicable ceiling of Rs. 1,00,000 per depositor, with any remaining claims depending on liquidation outcomes and statutory terms.

• Section 5(b) of the Banking Regulation Act, 1949 (AACS)
• Section 35 A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)

RBI imposed a Rs. 5 lakh penalty on Shri P. K. Anna Patil Janata Sahakari Bank Ltd., Nandurbar. The bank violated RBI limits on unsecured advances to a single borrower/connected group.

The bank must bear the monetary penalty and any related compliance scrutiny. The action does not impose a new operational restriction, but it signals supervisory concern over adherence to credit exposure norms for unsecured lending to single borrowers or connected groups.

• Section 47A(1)(b)
• Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)