PUNE: The issue of the takeover of Rupee Cooperative Bank Ltd has reached the decisive stage as the Reserve Bank of India (RBI) has given an ultimatum that a merger must be announced before February 2014 or it will start the process to liquidate the cooperative bank. The more than a century old Rupee bank has been under RBI directions since February 22, 2013, following large-scale irregularities in its operations and mounting non-performing assets which put its viability in jeopardy. Mumbai-headquartered Saraswat Cooperative Bank Ltd is the principal contender to take over the bank, with its offer for a complete takeover. Other cooperative banks have shown willingness to take over only a certain number of branches........
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