The existing Board of Directors of Urban Cooperative Bank Limited, Rourkela (UCBR) took over the charge of management with Rajesh Mohapatra as president in February 2015 while the bank was not only making losses but also on the way of sinking.
Even the RBI had issued warning to close down the bank if it could not revive. That is why the shareholders, investors and customers were apprehensive on the future of the bank.