Mapusa co-operative bank seeks permission to monetise assets

Mapusa Urban Cooperative Bank has sought permission from the Reserve Bank of India(RBI) to monetise assets or sell properties attached from defaulters that are totally worth over Rs 60 crores, said Ramakant Khalap, one of the bank’s directors.

“Mapusa Urban is considering various options, the first one being a proposal to monetise assets. We have commercial spaces in Panaji and Mapusa and on the books, their value is just Rs 25-30 lakh, but the actual value will be around Rs 6 to Rs 7 crore. We have asked RBI to allow us to show this as assets,” Khalap told reporters.