RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years

The Reserve Bank of India (RBI) has lifted the restrictions on Mumbai-based Sangli Sahakari Bank after 2.5 years, following improvements in its financial health. The cooperative bank had been under regulatory curbs due to its weak financial position. With the lifting of restrictions, Sangli Sahakari Bank will now be able to undertake normal banking operations, including lending and accepting new deposits. This marks a significant recovery for the bank, which had worked to restore its financial position and comply with RBI's regulatory requirements. The RBI’s decision reflects a positive outlook for the cooperative banking sector in India.