Explained: RBI has ordered Pune's Rupee Cooperative Bank to shut down; what happens to depositors now? - The Indian Express

The Reserve Bank of India has cancelled the banking licence of Pune-based Rupee Cooperative Bank, and directed the Registrar of Cooperative Societies to liquidate it. What does it mean for its 5 lakh depositors?

Late on Wednesday (August 10) evening, the Reserve Bank of India (RBI) announced it had cancelled the banking licence of the beleaguered Pune-based Rupee Cooperative Bank, and directed the Registrar … [+4928 chars]

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