Team Herald
PANJIM: The Central Registrar of Cooperative Societies on Friday appointed IAS officer Daulat Hawaldar as liquidator for the Mapusa Urban Co-operative Bank.
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Last week, Reserve Bank of India (RBI) had cancelled the cooperative bank’s licence, paving the way for its liquidation after multiple merger proposals had fallen through.
On Thursday, Central Registrar Vivek Aggarwal ordered Hawaldar’s appointment as the liquidator for a period of one year.
RBI had come to a conclusion that the financial position of the bank has left little scope for revival, though the bank had been given ample time and opportunity to revive its operations.
