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RBI cancels licence of Shree Mahalaxmi Urban Co-operative Credit Bank, Karnataka

Source: Reserve Bank of India · Press Release prid 62957 · ~2 min read

RBI cancelled the licence of Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak, Karnataka, effective June 18, 2026, due to inadequate capital and poor earnings. The bank is now prohibited from banking business. Depositors can claim up to ₹5 lakh from DICGC; 97.90% are fully covered.

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Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62957 — summary by BankPulse (bankpulse.ai).
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