RBI cancels banking licence of Sangli-based Sarjeraodada Naik Shirala Sahakari Bank
The bank does not have adequate capital and earning prospects and has also failed to comply with various regulatory requirements. The bank with its present financial position would be unable to pay its present depositors in full. “ Public interest would be adversely affected if the bank is allowed to carry on its banking business any further” RBI said in a release.
Consumer demand remains strong but delinquencies also inch up: Cibil dataDelinquencies in the LAP segment remain highest at 4.14% in November 2021, up 30 basis points from a year ago. One basis point is 0.01 percentage point. Loans due past 90 days in the two wheeler segment are also high at 3.64%, up 140 basis points. Consumer durable loan delinquencies are the third highest in the individual segment at 2.81% in November 2021 up 1 basis point year on year. Delinquencies in the credit card segment have eased sharply by 77 basis points to 2.22%.
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