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.
Comments
Dont live your life with HATE in your heart for anyone,
You will end up hurting yourself more than the people you HATE
Dear Brothers.
There is no God but ALLAH and Muhammad pbuh is the last and final messenger of ALLAH. ALLAH guides the one who is HONEST in knowing the TRUTH.
The Prophets of ALLAH are many but 25 Prophets are mentioned in QURAN by name.The best of them are 5
Prophet Noah,
Prophet Abraham,
Prophet Moses,
Prophet Jesus and
Prophet Muhammad - Peace be upon them all.
Mankind needs Guidance from their teachings... They all conveyed that ALLAH is the creator of all that exists (human beings, animals, plants, earth, universe and all that is in between them) and we all should WORSHIP him alone without associating partners.
Everyone is born as a Muslim but their parents take them to worship different man made objects as Gods... which is a Sin. (Until U research on it, You will never understand the consequences on worshiping others beside the True God)
Come to the TRUTH... and use your intellect to know the reality with LOGIC And REASON ---- QURAN invites YOU to use this logic and REASON & compare it with Bible, vedas and other scriptures... PLease TRY to read QURAN (TheQuranproject online)without being bias.
These people are jealous that they cannot attract/convert anybody from other community.....Islam is the best religion....one Allah....one prophet...thank Allah--- am a muslim....
these people can sell ramayana and mahabharatha nobody will come to object
These goons are afraid of people finding truth .and leaving the baseless religion....
Add new comment