Goa State Cooperative Bank is going a sticky patch compelling some of the directors on the board to question the way the bank is being managed. The bank has continuously been incurring losses, sources say.
Times of India reports, in a recent AGM some of the directors slammed the bank’s Chairman and MD and asked them to put a strategy in place soon to overcome the crisis.
The AGM held recently had been called to approve the audited balance sheet of the bank for 2015-16.
RBI had earlier given the bank a deadline to complete bifurcation of banking operations and hand over assets to the new Daman and Diu Cooperative Bank, but Goa State Co-Op Bank failed to meet the deadline and the date subsequently fixed wasn’t adhered to either.