Date:19/08/2004 URL: http://www.thehindubusinessline.com/2004/08/19/stories/2004081902460800.htm

Back South Indian Co-op board superseded

Our Bureau

Mumbai , Aug.18

THE Registrar of co-operatives has superseded the board of the beleaguered The South Indian Co-operative bank on the recommendation of the Reserve Bank of India.

According to sources, the deputy registrar, Mr Mahindra Kalyankar, has been appointed as administrator.

Mr Kalyankar assumed charge on August 17 and is expected to help the bank clean up its act in terms of recoveries and also streamline its operations.