India, June 1 -- The co-operatives commissioner and registrar of co-operative housing societies, Maharashtra, on May 30 appointed an administrator for Yashwant Co-operative Bank Ltd following complaints of irregularities. The decision comes after Bharatiya Janata Party (BJP) Member of Parliament (MP) Medha Kulkarni met Union home and cooperation minister Amit Shah at his residence recently and highlighted the financial and administrative irregularities at the bank.

The parliamentarian sought Shah's help in securing the return of depositors' money from the bank headquartered in Satara, Maharashtra.

Deepak Taware, commissioner, co-operatives and registrar of co-operatives, said that the statutory inspection of the bank by the Reserve Bank...