Anyonya Co-operative Bank Current Status and Developments

Anyonya Co-operative Bank has been a trusted financial institution in the region for many years, serving the needs of its members and the community.

The bank has a long history dating back to 1964, when it was first established to provide financial services to the local population.

Today, the bank operates with a strong focus on community development and social responsibility, reflecting its cooperative values.

As of my last knowledge update, the bank has a robust network of branches and ATMs, making it easily accessible to its customers.

The RBI took several steps to deal with the financial issues at Anyonya Cooperative Bank. The RBI cancelled the bank's licence on September 3, after it became bankrupt and all efforts to revive it failed.

The RBI had been conducting statutory inspections on the bank since 2005, which showed severe liquidity problems and deficiencies in its functioning. The bank was also placed under financial restrictions in September 2007 for not being able to reduce its Non-Performing Assets (NPAs).

The RBI had given the bank a deadline to come up with concrete steps to recover money from defaulters, but it failed to meet this deadline. The bank's NPA was 31.71 crore in 2007, and it has now increased to 22.4 crore, with the bank still owing Rs 24 crore.

The RBI-appointed liquidator has taken over the functioning of the bank and is gathering information about depositors and defaulters. The bank employees are still coming to the office to help the liquidator gather the required information.