MARGAO
The liquidator appointed by the government in the Madgaum Urban Cooperative Bank (MUCB) matter has decided to shut all nine of the branches of the bank spread across the state from April 1.
This implies that these branches will not be open for the members of the public from April 1. It also means that the bank will shift all the lockers which have still not been surrendered to the bank to date.
Any future queries or questions regarding any matter pertaining to the deposits of lockers will have to be then addressed to the head office at Margao.
The move comes against the backdrop of the audit completed by the insurance agency of the various branches ahead of the process to return the deposits of the beleaguered depositors.
The branches that will be shut down from April 1 include the one at Margao, Sanguem, Old market (Margao), Curtorim, Benaulim, Panjim, St Andre (Goa Velha), Aquem-Alto (Margao) and Ponda.
Sources informed that of the nine branches, five of the branches were running on a rental basis, while the premises of the remaining four are being owned by the bank.
“The bank will save the costs, including rent and administrative, once these branches are shut down”, an official said.
An official, however, pointed out that the head office located at Margao will continue to operate and depositors can direct their queries to the officials there.
As far as the bank lockers that have not been surrendered are concerned, sources informed that these will be opened as per the laid down guidelines from mid-March and the entire operation of shifting the valuables to the head office will be completed before April 1, sources said.
Of the total bank lockers, around 150 have still not been surrendered by the holders, which had prompted the liquidator to issue a final notice to them to surrender the lockers.
