Rupee Bank administrator meets FM, BFSI News, ET BFSI

Pune: The administrator of the stressed Rupee Cooperative Bank, Sudhir Pandit, met Union finance minister Nirmala Sitharaman on Wednesday and sought a resolution of the current situation of the bank, which was denied permission to merge with Maharashtra State Cooperative Bank by RBI last week.

The meeting was also attended by the Pune Lok Sabha MP Girish Bapat. “I apprised the FM of the situation of the bank, which is more than a century old, and the issues that senior citizens will face, who comprise nearly all of the high-value depositors. The FM assured me that she will look into the issue for a resolution. I told her of the plans that we have drawn up regarding the revival of the bank into a small finance bank,” he said.