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Maharashtra appoints liquidator to wind up Rupee Cooperative Bank

Trouble has been brewing at the Pune-based lender for some time. In February 2013, the RBI placed it under restrictions, which were extended from time to time

regional rural banks
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The Reserve Bank of India (RBI) on August 10 cancelled the Pune-based bank’s licence as the lender did not have adequate capital and earning prospects

Abhijit Lele Mumbai
The Maharashtra registrar of co-operative societies (RCS) has appointed D Doiphode as liquidator to wind up the crisis-laden Rupee Co-operative Bank. The liquidator will focus on recoveries and repayment to depositors of up to Rs 300 crore.

The appellate authority (in the finance ministry) has dismissed the appeal filed by Pune-based Rupee Co-operative Bank against the order, cancelling the banking licence in August this year.

The Reserve Bank of India (RBI) on August 10 cancelled the Pune-based bank’s licence as the lender did not have adequate capital and earning prospects.

Trouble has been brewing at the Pune-based lender for some

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First Published: Nov 02 2022 | 9:14 PM IST

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