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Mapusa bank curbs: shareholders forum makes fresh appeal to RBI




The shareholders of Mapusa Urban Co-operative Bank met the general manager of Reserve Bank of India (RBI), Panaji requesting to grant relaxation on withdrawals and also for the state registrar of co-operative societies to intervene in the matter and appoint an administrator.

Shareholders forum comprising of Rajsingh Rane, Paresh Raikar, Kiran Shirodkar, Yeshwant Gawandalkar and Resham Bhartu on Monday met the general manager of the Reserve Bank of India branch S T Kannan at Panaji and submitted a letter requesting the bank to permit a onetime withdrawal of Rs 20,000 in view of the Ganesh Chaturthi festival.

The letter to the RBI Panaji branch general manager states, considering the forthcoming Ganesh Chaturthi we will be obliged if you can kindly consider our representation of allowing our bank depositors to withdraw an amount of Rs 20,000 as a onetime approval at the earliest.

Subsequently the shareholders forum also met the state registrar of co-operative societies Sanjeev Gadkar and handed over a copy of the resolution which was taken at the meeting of shareholders held on Saturday requesting for the appointment of an administrator to resolve the bank crisis due to the resignation of the board of directors.

“In the interest of the depositors, we request you to initiate immediate action in appointing an administrator for the Mapusa Urban Co-operative Bank and to resolve the stalemate created by the resignation of the board of directors,” the shareholders said in the letter.

The shareholders forum member, Raj Singh Rane said, “The state registrar has appreciated our concern and said that the request will immediately be forwarded to their central office in Delhi as MUCB is a multi-state bank”.

Rane further said that the RBI general manager has said that the letter submitted by the shareholders forum will be submitted to his higher-ups for action.

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