Mired in mismanagement the Mumbai -based Kapol cooperative bank has attracted the ire of the RBI.
The latter has appointed an administrator to control the bank. The apex bank says this has been done to protect the interests of depositors.
According to the RBI statement, barring pre-mature withdrawals customers could conduct normal operations through their accounts. However, the RBI has warned account holders against giving in to speculative rumours and messages.
The cooperative bank is being professionally run and there is no cause for alarm, the RBI asserted. Sources say the cooperative bank is pretty old having more than a dozen branches. The bank has been notching a little profit over the last years, said sources.
now shivamogga d c c bank 100 cr fake jewel loan fraud…..A New Bigning from karnataka ???