Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. RBI extends Rupee Co-op Bank licence by 3 months

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

RBI extends Rupee Co-op Bank licence by 3 months


Date: 30-05-2020
Subject: RBI extends Rupee Co-op Bank licence by 3 months
Rupee Co-op Bank, Pune has been granted an extension for its banking license by the Reserve Bank of India (RB)I for further three months i.e. up to July 31, 2020. In a statement issued by the bank, Sudhir Pandit, chairman, board of administrators, said that the bank has till date recovered Rs 258.11 crore and has registered an aggregate profit of Rs 53.19 crore during the last four years.

The administrator of Rupee Bank said that all efforts were being made to safeguard the interests of its depositors and the depositors are ready to co-operate for any early resolution of the bank.

Pandit said that the bank has taken effective steps for recovery in hardcore accounts, including attachments of properties of defaulters, public auctions of the same, filing criminal suits against defaulter borrowers/guarantors, etc. The bank has also shared the names of its defaulter borrowers/guarantors to other banks for effective recovery, he said.

The joint proposal for merger of Rupee Bank with Maharashtra State Cooperative Bank (MSCB) mutually agreed by both the banks and envisaging ‘no loss’ to the depositors is already submitted to RBI, which is presently under scrutiny and evaluation of RBI, he said. Both the banks are following it up with RBI, he said, adding t
hat the bank is keen to get its statutory audit completed at the earliest.

Source:- financialexpress.com

Infodrive India Pvt Ltd

Delhi :
  F-19, Pocket F, Okhla Phase-I
      Okhla Industrial Area

      New Delhi- 110020
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2020 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+