RBI extends Rupee Co-op Bank licence by 3 months

Rupee Co-op Bank, Pune has been granted an extension for its banking license by the Reserve Bank of India (RB)I for further three months i.e. up to July 31, 2020. In a statement issued by the bank, Sudhir Pandit, chairman, board of administrators, said that the bank has till date recovered Rs 258.11 crore and has registered an aggregate profit of Rs 53.19 crore during the last four years.

The administrator of Rupee Bank said that all efforts were being made to safeguard the interests of its depositors and the depositors are ready to co-operate for any early resolution of the bank.