Anyonya: RBI liquidator begins moves to deal the final blow to ailing bank

Ahammed : The Reserve Bank of India (RBI)-appointed liquidator has started gathering information about depositors and defaulters of the Anyonya Cooperative Bank Limited (ACBL).

According to officials at ACBL, the process to compile information about the bank’s account holders and depositors has started.

“Now the RBI-appointed liquidator has taken over the functioning of the bank and the process to gather the information about the account holders and depositors has started. The bank employees are still coming to the office because without their help it is not possible for RBI to gather the information required for liquidation,” said ACBL Chairman Dilip Kelkar.

RBI had cancelled the licence of the bank — the first cooperative bank in Asia — on September 3, as the lender became bankrupt and all efforts to revive failed.

The bank was asked not to continue any banking related transactions until further directions. It was after the ACBL failed to meet the RBI’s deadline to come up with concrete steps to recover the money from the defaulters by August the license was canceled.

courtesy : www.indianexpress.com