On Tuesday, Allahabad High Court issued a notice to the Reserve Bank of India (RBI) on a plea seeking a CBI investigation against Indian Mercantile Cooperative Bank.

On Tuesday, A division bench of Justices O P Shukla and A R Masoodi filed the petition. It issued the notice to the Reserve Bank of India (RBI) on a Public Interest Litigation.

Ashok Pandey, The petitioner’s counsel, submitted that Indian Mercantile Cooperative (IMC) Bank had granted a loan of Rs 10 crore despite a ban; it also claimed that the bank was allegedly involved in cheating and money laundering. The High Court’s Lucknow bench fixed the issue’s hearing in the third week of the upcoming month.