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RBI Supersedes New India Cooperative Bank Board for 12 Months
The Sunday Guardian
|February 16, 2025
Reserve Bank of India superseded the Board of Directors of New India Cooperative Bank Ltd, Mumbai, for 12 months, the central bank said in a statement on Friday, a day after it imposed several restrictions on the lender.
Consequently, the RBI has appointed Shreekant, former Chief General Manager of State Bank of India (SBI) as 'Administrator' to manage the affairs of the bank during this period.
The RBI has also appointed a 'Committee of Advisors' to assist the Administrator in discharging his duties. The members of the Committee of Advisors are Ravindra Sapra (former General Manager, SBI) and Abhijeet Deshmukh (Chartered Accountant).
Dit verhaal komt uit de February 16, 2025-editie van The Sunday Guardian.
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