The Reserve Bank of India (RBI) has cancelled the license of Yashwant Sahakari Bank located in Karad, Satara district, due to its poor financial health and lack of adequate capital. The bank was reportedly involved in a Rs 112 crore scam involving 195 fake accounts and fraudulent loans. Consequently, all banking operations have been halted, affecting over 11,000 members. Former chairman Shekhar Charegaonkar and other officials face legal action, with the Enforcement Directorate also investigating the matter. Depositors are expected to receive relief through deposit insurance schemes up to a specified limit. https://punjab.news18.com/news/business/rbi-cancelled-the-license-of-this-bank-with-lakhs-of-customers-overnight-970026.html #Creator program