Mumbai: The new depositors of the Cooperative Bank of India has urged the governor of the Bank of the Reserve of India, Sanjay Malhotra, to rescue the affected people of the terrible situation in which they are following the curbs placed by RBI.
“Without guilt for our own, we are now in a serious financial situation. We cannot access our savings won with so much effort, which we have accumulated for decades, to meet the essential needs of life as the education of our children, medical expenses, the safety of old age, personal activities and even wedding preparations. Also severely affected by this action.
“The emotional and financial tension that this situation has caused in individual depositors and cooperative housing societies is unbearable. Our basic survival needs are now at risk, and instead of stability, we face uncertainty, anxiety and anguish. For 30 years, we have been loyal clients of this bank, placing our confidence in the banking system with the belief of our belief.
“We do not understand how only the insurance coverage of 5 LAKH of RS 5 Lakh can justify the loss of our vital savings. This amount is unfortunately insufficient for many of us, whose deposits exceed this limit. The unfortunate reality is that the officials of several branches of Nicb Ltd. are pressing the depositors who accept the payment of insurance without providing clear answers in the FATE of the main deposits They find in the bank. “
“At first glance, a fraud for only RS 122 million rupees alone should not have been enough to destabilize a bank with a deposit base of RS 2,436 million rupees from March 2024. Following the intervention of the RBI, insurance payments initiated by the banks, the efforts to revive normal operations, indicate more deep systemic problems.
“Historically, the initial reports in cases such as this often scratch the surface, and the true scope of financial anguish becomes evident only after exhaustive investigations. Banking, which reflect the level of health and financial risk of a bank, are crucial indicators. These qualifications are determined when evaluating several key factors, such as financial stability, quality of assets and performance gains. These grades to the grades to public relations to the grades to public relations to people to the qualifications to the grades to the qualifications to the grades to the qualifications to the qualifications so that the qualifications of the public to the transparent ones, guarantee the transparent customers, which are transparent, which promote the customers, which allows the clients of the profits to be essential. decisions about your investments “.
“Given the growing scrutiny of financial institutions and regulatory bodies, there is the possibility of more comprehensive investigations. However, the result will depend on the will of regulators and policy formulators that this problem does not address the underlying problems and will be responsible.
The Foundation has demanded that the RBI provide an update on the audit made by it, confirm the scope of the loss incurred by the bank, quantifies the NPA, the complete recovery of the deposits above the limit of 5 LAKH of RS 5 Lakh and the reactivated bank as very early.
