The Telangana High Court has issued a contempt notice to Reserve Bank of India Governor Shaktikanta Das in a case filed by AP Mahesh Cooperative Urban Bank Shareholders Welfare Association, media reports say.
The RBI has failed to appoint an officer to run the administration and day-to-day affairs of AP Mahesh Coop Bank, as ordered by the Telangana High Court on April 24.
Justice C.V. Bhaskar Reddy directed the RBI Governor to state by July 7, why contempt proceedings should not be initiated.
Earlier, the High Court had directed newly-elected directors not to take policy decisions.