Current Affairs · RBI Co-operative Bank Supersession and Governance
Case Study: In a decisive regulatory intervention, the Reserve Bank of India (RBI) superseded the board of a prominent co-operative bank, citing severe governance failures and financial deterioration. The bank reported consecutive net losses, while its capital adequacy dropped critically below the regulatory minimum. Following the board's supersession, operational restrictions were imposed, including bans on fresh deposits and new loans. Depositors were assured of protection under insurance limits within 90 days. An Administrator and an advisory committee were appointed to oversee operations and restructuring, while law enforcement initiated actions regarding alleged financial fraud. Based on the operational specifics of this regulatory action on New India Co-operative Bank in early 2025, which of the following combinations correctly identifies the bank in question, its Capital Adequacy Ratio (CAR) as of March 31, 2024, the newly appointed Administrator, and the amount allegedly misappropriated by its Head of Accounts?
- 1New India Co-Operative Bank | CAR: 9.06% | Administrator: Shreekant | Misappropriated Amount: ₹122 crore✓
- 2Durga Co-operative Bank | CAR: 9.06% | Administrator: Shreekant | Misappropriated Amount: ₹85 crore
- 3New India Co-Operative Bank | CAR: 10.05% | Administrator: Abhijeet Deshmukh | Misappropriated Amount: ₹122 crore
- 4Abhyudaya Co-operative Bank | CAR: 8.50% | Administrator: Ravindra Sapra | Misappropriated Amount: ₹150 crore
Correct answer
New India Co-Operative Bank | CAR: 9.06% | Administrator: Shreekant | Misappropriated Amount: ₹122 crore
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