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Flashback 2020

Bankers have been talking about near-normalcy in collection of loan repayments and very few stressed borrowers going for loan restructuring. This gives us hope for 2021

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Tamal Bandyopadhyay New Delhi
On December 7, the Reserve Bank of India (RBI) cancelled the licence of the Karad Janata Sahakari Bank Ltd in Maharashtra and barred it from conducting the business of “banking” as it did not have adequate capital and earning prospects. 

On that day, the bank also went for liquidation.

This is the third such instance in 2020. Earlier this year, the banking regulator had cancelled the licences of two other co-operative banks — CKP Co-operative Bank Ltd, also in Maharashtra, and the Mapusa Urban Co-operative Bank of Goa Ltd — for similar reasons.

Co-operative banks have always been a sore
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First Published: Dec 27 2020 | 8:42 PM IST

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