Madhavpura Coop Bank to face liquidation
By Vaibhav Aggarwal
Dec 13, 2010
Print    Email    RSS   

Madhavpura Mercantile Cooperative Bank (MMCB) has been in deep trouble ever since it got entangled as victim of the well known Ketan Parekh scam.

Banking regulator, Reserve Bank of India has directed all urban cooperative banks which have their money deposited with MMCB to make prudential norms against them. This is expected to be the first step towards liquidation of Madhavpura.

The bank currently owes around Rs 415 crore to more than 165 UCBs which had planted deposits with it.

"The RBI decision could prove to big blow to small UCBs which had deposited money with MMCB as its liquidation may impact their balance sheets negatively," said a veteran cooperative leader.



(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Plan for your retirement
Credit profile and its effect on loan...
Is the Base Rate system really transparent?
Which is better: personal loan or gold loan?
Now, Do Banking on Social Media Sites

네) +27638167664 WE''응 SALE 응 ABORTION PILLS...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive