Case Brief
The Reserve Bank of India had earlier cancelled the banking licence of Rupee Co-operative Bank Ltd., Pune on August 8, 2022. Although the High Court of Bombay temporarily stayed the cancellation and the Supreme Court limited that stay until October 31, 2022, the Appellate Authority ultimately dismissed the bank’s appeal on October 31, 2022. Following that dismissal, the Maharashtra co-operative registrar appointed a liquidator to wind up the bank’s affairs.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra
- Order Date