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The Reserve Bank of India (RBI) says the Maharashtra registrar of cooperative societies (RCS) has appointed a liquidator for winding up affairs of Pune-based Rupee Co-operative Bank Ltd (Rupee Bank). This follows the dismissal of an appeal filed by Rupee Bank before the appellate authority (AA) of the RBI.
The Bombay High Court (HC) has suspended the operation of the Reserve Bank of India (RBI) order cancelling the banking license of the 110-year old Rupee Co-op Bank Ltd,