SME Times is powered by   
Search News
Just in:   • Sensex slips 120 points in early trade  • Airtel has liquidity, Vodafone to face challenge on AGR: Report  • Budget 2020: Urgent need to spur demand  • J&K global investors' summit in April: Lt Governor Murmu  • Petrol, diesel prices cut further on Monday 
Last updated: 13 Jan, 2020  

Rupee.9.Thmb.jpg Bengaluru bank chairman says depositors money safe

   Top Stories
» Don't want law that looks at businesses with suspicion: Sitharaman
» Goyal to lead Indian delegation to WEF 2020
» Industry meet kickstarts ahead of 'Wings India 2020'
» GeM Samvaad witnesses overwhelming response
» Budget should focus on demand creation: Industry
SME Times News Bureau | 13 Jan, 2020
At a public meeting here of thousands of worried bank customers, Sri Guru Raghavendra Sahakara Bank Chairman K. Ramakrishna on Monday said that depositors' money with the bank is "one hundred per cent safe".

"Your money is 100 per cent safe with Sri Guru Raghavendra Sahakara Bank. It is my responsibility," Ramakrishna said at Sri Guru Narasimha Kalyanamandira auditorium where thousands of depositors had assembled to seek clarifications on the fate of their deposits.

Dramatic scenes and pandemonium ruled the gathering earlier before his arrival when thousands of the bank customers threatened to go en masse to the police station and file a case against Ramakrishna.

The depositors made this threat after hearing that Ramakrishna could not appear before them as he had undergone a heart operation.

As Ramakrishna spoke to the gathering in Kannada, hundreds of depositors shouted back at him seeking clarifications.

"The bank is saying that I cannot withdraw more than Rs 35,000. In case our fixed deposit matures, we have to renew it as we cannot encash it, " said Nagaraj M, 49, a six-year-old account holder with the bank.

At the auditorium, thousands of depositors earlier demanded the presence of bank chairman to come and clarify on the situation.

Pandemonium prevailed earlier at the location with no senior bank employee available to reassure customers.

The bank invited the depositors to assemble at the auditorium at 6 p.m. on Monday to update them on the status, following a Reserve Bank of India (RBI) directive restricting the bank from doing business with immediate effect.

"We want the directors of the bank here," shouted a depositor from the stage, addressing fellow depositors.

A handful of policemen were trying to control the crowd and bring order to the assembly.

Many elderly and retired persons arrived at the meeting to know the fate of their savings.

"Sri Guru Raghavendra Sahakara Bank was a good bank with only 0.5 per cent non-performing assets. Nowadays days we cannot trust any bank. See what happened with the PMC Bank," lamented another customer.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 20 Jan, 2020
  Daily Poll
Ease of doing business improved in last one year
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(3)
» China's forex reserves reach USD 2.85 trillion(1)
» 'Capital Adequacy Ratio' above regulatory norms: Yes Bank(1)
» MSME: Budget expectations(1)
» L&T secures Rs.3.44 billion project from Power Grid(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter