the goan I network
MAPUSA
The Shareholders Forum of the Mapusa Urban Coop Bank of Goa on Monday met officials of Reserve Bank of India (RBI) in Panaji to allow depositors to withdraw an amount of Rs 20,000 as a one-time approval at the earliest.
A delegation of shareholders led by Mapusa Councilor Rajsingh Rane, Paresh Raikar, Kiran Shirodkar, Yeshwant Gawandalkar and Resham Bhartu submitted a memorandum to RBI officials in this connection.
Referring to the embargo imposed by RBI on the bank, they have sought the apex bank’s attention on the crisis arisen due to limitations on most financial transactions, including one-time withdrawal limit of only Rs 1,000.
“Since all sitting Board of Directors have tendered their resignation, this has brought the bank to a standstill and the banks boat is floating in waters without proper management and guidance.”
“While we are separately approaching the State Government and the Registrar of coop Societies for their intervention to support the bank at this critical juncture in the larger interest of the depositors and cooperative movement in the tiny state of Goa, there is a total restlessness among the depositors and shareholders regarding their investment in the banks various deposit schemes,” the memorandum added.
The shareholders said they had also written to the Central Registrar of Coop Societies to appoint an administrator or seeking an option of merger as per the set RBI guidelines.
“In the interim, considering the forthcoming Ganesh Chaturthi Festival, we shall be highly obliged if you could kindly consider our representation of allowing the saving bank depositors to withdraw an amount to the extent of Rs 20,000 as a one-time approval at the earliest,” petitioned the shareholders.
The delegation also met Registrar of Co-op Societies Sanjeev Gadkar submitted another representation.
“He has assured us that immediate steps will be taken to resolve the problem and issues faced by the bank due to enforcement of the embargo,” said Rane.
