The Maharashtra State Cooperative Bank (MSCB), which is under administrator’s rule since May, has missed the March 31 deadline for getting a banking licence from the Reserve Bank of India. The state cooperation department confirmed this development saying that the delay was due to procedural issues. The department said it hoped RBI to issue the licence on Monday or this week, as it has reconfirmed fulfilment of necessary criteria with RBI and Nabard. The banking licence for MSCB was made mandatory according to the Rakesh Mohan Committee report.…..
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