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HYDERABAD, March 26

AS a part of its efforts to restructure and revive the operations of the ailing Charminar Bank, the city-based urban cooperative bank, the Andhra Pradesh State Registrar of Cooperative Societies (RCS) has appointed a seven-member person-in-charge committee for a period of one year.

In a press release here, the RCS, Mr D.R. Garg, said the Person-in-charge Committee would manage the affairs of Charminar Bank.

The members of the Committee include Mr Mohammed Ali Rafat, an IAS officer, who would act as the Chairman of the Committee, Mr M.K. Bandopadhyay, a retired regional director of Reserve Bank of India, who would act as the Vice-Chairman, Mr V.S. Sudhir, former Senior Vice-President of UTI Bank, Mr Uday Shankar, a registered valuer, Mr B. Damodar, a retired joint registrar at the Cooperative Department, Mr Iqbal Ahmed, a retired city planner, and Mr M. Pichaiah, a retired superintendent engineer.

The last two members would represent the depositors of the bank. According to Mr Garg, the State Government had notified a scheme for restructuring and revival of Charminar Bank with the prior approval of RBI in terms of provisions of AP Cooperative Societies Act, 1964.

The scheme of reconstruction and revival of the bank provides for appointment of a broad based committee of persons consisting of professionals, representatives of depositors and government nominees to manage the affairs of the bank during the implementation of the reconstruction and revival package.

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