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
India need back to ballet revolution or face new constitution in future. EVM votes for modi on all states.
Cong. Govt was very good and fulfilled all the promises, good in administration and Overall development and one of the top most Govt in India, and list goes. but still BJP win the election in spite of corrupt leaders, hate mongers and looters. How it is possible?
What is the Reason? Unknown? Think of it. there is no Anti Cong. Ale, in karnataka
There is no any major complaint against rulers during periods. one of the best performed govt.
It is very difficult to think that people of karnataka is not ignorant and hate mongers
If we analyse the Reasons may be
1) People may not concern about Janakeeya govt and development work
2)EVM magic may be?
it is not possible to prove EVM tampering because it is highly technical and Election commission and all its engineers may be fully controlled by Sangh Parivar. so there is no value for complaint.
To whom we complaint?
It could be hidden agenda to rule India and its state through EVM. even supreme court and justice is loosing its value. Democracy is almost in end stage
There is a lesson to think. Analyse....
Think......think.......think...... think
Find out the reason......
No doubt it is EVM tampering...
EVM bluetooth hack played major role in Karnataka election... no people in the world will vote for corrupt party man..this is kill of democracy & raise of evil in india ...this will only end if indian involve in war or people revelotion against government...now more midclass people will soon become poor..no job..no development..no peace...no justice...most important save your daughter from evil people of BJP...
Anti Hindu Government Kicked out. This is what happens if you seek votes only from minority.
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