RBI in Action: Administrator Appointed for Yashwant Co-operative Bank Amid ₹150 Crore Scam Allegations
New Delhi, 1st June 2025: Reserve Bank of India (RBI), in coordination with the Maharashtra co-operatives commissioner, has appointed an administrator for Yashwant Co-operative Bank Ltd following complaints of serious financial and administrative irregularities.
The decision was announced on May 30, after a statutory inspection by the RBI showed violations that were considered a risk to depositors’ interests.
BJP MP Medha Kulkarni brought the issue to the attention of Union Home and Cooperation Minister Amit Shah during a meeting at his residence. Kulkarni highlighted alleged fraudulent activities within the Satara-headquartered bank, claiming the scam could be worth as much as ₹150 crore.
Deepak Taware, commissioner of co-operatives and registrar of co-operative housing societies, confirmed the action and stated that the RBI’s inspection for the year 2024–25 revealed irregularities that demanded immediate action. The findings reportedly included forged documents, fake signatures, and false guarantors being used to sanction loans. Allegations are made that the bank was aggressively recovering debts by forcibly seizing the land and properties of customers.
The appointment of the administrator signals an important action by the RBI to restore confidence among depositors. An investigation report is about to release.
