Mapusa Urban Bank assures customers, shareholders over safety of money



Chairman of Mapusa Urban Cooperative Bank of Goa Ltd has assured its customers and shareholders that every paisa in the bank is safe and all efforts are being made to resume banking operations at the earliest.

Reserve Bank of India (RBI) has imposed from Tuesday an embargo restricting all withdrawals to a limit of up to Rs 1,000 leaving customers including depositors, businessmen, beneficial of various schemes worried.

Sources informed that officials of the bank are supposed to meet RBI officials to get a clarification on withdrawal limit and seek assistance.

Assuring its customers and shareholders, chairman of the bank Gurudas Natekar has appealed to all its customers and shareholders “to cooperate with the management and not to get provoked by adverse propaganda by vested interests as management is putting in all efforts to resume banking operations”

“The Board is confident that the restrictions imposed by RBI will be withdrawn or relaxed at the earliest. We also hope that the central and state governments will formulate a policy to strengthen the co-operative banking movement. The directors have unanimously volunteered to resign to enable the government to take over the management,” said Natekar.

He also added, “We are also thankful to Rajya Sabha MP and president of BJP Goa Vinay Tendulkar for his efforts to help the bank tide over the restrictions imposed by RBI. He has endorsed our request to government of India for Rs 100 crore share capital contributions and has already met the concerned minister in government of India in this respect.”

It may be recalled that in July 2015, RBI had directed the bank not to grant or renew any loans and advances, make any investments, incur any liability including borrower of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of it liabilities and obligations or otherwise, enter into any compromise or agreement and sell, transfer or otherwise dispose of any of its properties or assets except to the extent and in the manner. Subsequently some sanctions were gradually lifted by RBI.

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