In a bid to revive the defunct Bhubaneswar-based Urban Cooperative Bank (UCB), the State Government has sought approval of the Reserve Bank of India for an effective takeover of the management of the bank by the Chennai-based Government Telecommunication Employees’ Cooperative Society (GTCECS). Secretary of the Department of Cooperation (DoC) Bishnupada Sethi is trying hard to revive the ailing UCB. Earlier, the State Government had tried to rope in the COSMOS Bank to revive the UCB, but the move failed due to various reasons...............
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