Abhyudaya bank's ousted Chairman moves HC against RBI's takeover

Abhyudaya Co-operative Bank's ex-Chairman Sandeep Ghandat has moved the Bombay High Court against RBI superseding the bank's board for 12 months. RBI cited "poor governance standards" of the bank for its decision announced last month. "We told the court that we were improving, but the RBI expelled us from the board," Ghandat told Moneycontrol.