RBI has extended Rupee Cooperative Bank’s banking licence for another three months that is till May 31 2021.
The bank’s administrator of the board of directors Sudhir Pandit is quoted saying up to January 2021, the bank made a total recovery of Rs 258.11 crore, and aggregate operating profit of Rs 53.19 crore in the last four years.
According to Pandit, the bank is taking all possible steps to improve its financial situation including attachment of properties of defaulters and filing criminal cases against defaulters and their guarantors. He said the bank has been earning operating profit for the last five years.