Depositors urge for an immediate merger of Rupee Bank.
Pune: Regarding the merger of Rupee Bank, the country’s leading Saraswat Co-op. Bank has come forward, which we, the depositors, warmly welcome. Mehsana Co-op Bank in Gujarat has also proposed a merger. Therefore, without any delay, the RBI should take appropriate steps to ensure that all depositors get the full amount and be merged immediately, a demand was made at a press conference on behalf of Rupee Bank Depositors’ Rights Committee today. Shrirang Paraspatki, Bhalchandra Kulkarni and Mihir Thatte were present on behalf of the committee.
Mr Gautam Thakur, Chairman of Saraswat Co-op Bank has taken a good decision very quickly. From time to time, Pune MP Girish Bapat had taken the initiative to raise the issue of Rupee Bank with Union Finance Minister Nirmala Sitharaman and Union Finance Minister Dr Bhagwat Karad. Dr Karad has paid special attention to this merger and has tried to make it happen immediately. Due to his efforts, the bank’s administrator Sudhir Pandit has held several meetings with the Governor and Deputy Governor of the Reserve Bank. We demand that the RBI should take a quick decision and resolve this issue once and for all so that all these efforts can succeed and all the depositors can get their dues.
For the last 9 years, Rupee Co-op. Bank question pending. All the depositors are distraught as they are not getting their dues. About 5 lakh depositors have Rs 1300 crore stuck in the bank. In the last few years, the depositors, along with the co-operative department, have made several representations to the Reserve Bank. But unfortunately, nothing happened to it. Now deposits up to Rs. 5 lakhs are secured through this deposit insurance corporation. There is a good chance of a merger for that. The recent amendments to the Banking Regulation Act give the RBI full control over the cooperative banks, so the RBI should protect all depositors.
