Back in July 1991, the RBI cancelled the licence of the Madgaum Urban Co-operative Bank Limited, Margao. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors was set in motion. However, it is surprising that even after publishing in the newspapers, the depositors of Madgaum Urban Cooperative Bank are not coming forward to claim their money and lockers. The liquidator should send staff to the residences at the known address to find out if they are living or not and guide them to claim their money. It is hard earned money and the heirs must get back the same.
Vikas Sawkar, via email
