Bengaluru, Jan 14: Assuring depositors that their money was "100 per cent safe" with the bank, Sri Guru Raghavendra Sahakara Bank Chairman K Ramakrishna in Bengaluru on Monday said 62 loans had locked up Rs 300 crore of deposit.
"Your money is 100 per cent safe with Sri Guru Raghavendra Sahakara Bank. It's my responsibility," Ramakrishna said at Sri Guru Narasimha Kalyanamandira auditorium, to assure depositors.
He was addressing angry customers of the bank at a public hearing. Due to the 62 dud loans, the Reserve Bank of India (RBI) had restricted the lender from executing business, Ramakrishna said amid shouting by depositors. The RBI has limited withdrawals by depositors to Rs 35,000.
"The bank is saying I can't withdraw more than Rs 35,000. In case of our fixed deposit maturing, we will have to renew it as we can't encash it, " said Nagaraj M, 49, who has been dealing with the bank for the past six years.
To assuage customers, the call to an assistant commissioner of police by Bengaluru South MP Tejaswi Surya -- not present -- was relayed on loudspeaker live and the MP claimed that he had spoken to Finance Minister Nirmala Sitharaman to help the customers.
Ramakrishna said he would meet customers again on January 19 with all the details and numbers. Dramatic scenes and pandemonium ruled the auditorium before his arrival. Thousands of bank customers threatened to go en masse to the police station and file a case against Ramakrishna.
As he addressed the gathering in Kannada, hundreds of depositors shouted back at him seeking clarifications. At the auditorium, thousands of depositors earlier demanded the bank chairman's presence to clarify the matter.
The lender had invited depositors to the auditorium at 6 p.m. to update them on the bank's status, following a RBI directive restricting the bank from doing business with immediate effect.
"We want the bank's directors here," shouted a depositor from the stage. A handful of policemen were trying to control the crowd and bring order to the assembly. Many elderly and retired persons had arrived to know the fate of their savings. Several women were also present at the meeting.
"It was a good bank with only 0.5 per cent NPAs. Now we can't trust any bank. See what happened with the PMC Bank," said another customer.
Shankar Sharma, 38, an employee of a private company, said majority of depositors were senior citizens and retirees. "I don't have an account with the bank, but my mother, uncle, aunt have deposited money in it. I came for them, " said Sharma. He said many of the bank's 35,000 clientele deposited more than Rs 5 lakh, which had total deposits of Rs 1,600 crore. The bank started operations in 1999.
Ramakrishna was escorted away to safety by the police after his speech even as the depositors were screaming and agitating for justice.
The police have identified the deceased as Sanat Kumar, 35, who was running a small finance firm besides being the president of Haleyangadi unit of the HJV.
Comments
Must be somebody from the HJV killed him to make it look like suicide. are the police investigating. All unnatural deaths should be properly checked.
Brother Manish #1
You have Mistaken What is the use of Organisation when Almighty Allah is not with them.
Learn Islam before its too late.
Naren and viren are busy with preparing CD/video to misuse this situation to frame some innocent people and trap them with Gooswami.
Our nationalist peddu naren is commenting on other news but he is not here with his brother? thats so sad when someone needs condolence he is not here... thats a shame for him and his HJV or HIV
Hi.. your goggles are super!!! how much u paid? now who using them?
Sad to know that there are people who celebrate the untimely death of a youth. #RIP humanity.
RIP, Any way great job, this is the lesson for youth of bajarangi what happens if cancer is in your mind
Entire organisation would be with you if you attacked Muslims or Christians. I bet if you consulted minorities regarding your problem you would be alive today.. RIP.. We know one to blame but what HJV are doing with minorities entire country knows.. And don't forget Manish... God is above any organisation..
And this kind of people lead organizations.....come on.....bhudhanaazhcha ka nahee to kyaa public ka
Feenari........
Madidunno maraya!!
I don't agree with Manish's comments
Had your entire organisation was with him this wouldn't have happened
All such org only uses such youths and make public bakra
RIP brother. You took a wrong step when entire organisation was with you.
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