Karnataka: Ex-CEO of crisis hit Guru Raghavendra Sahakara Bank Limited booked
Bengaluru: A case of cheating and forgery has been registered against the former chief executive officer of crisis-hit Guru Raghavendra Sahakara Bank Limited here, weeks after RBI cap on withdrawal limit triggered panic among depositors.
According to police, the case has been registered based on a complaint by the present CEO officer A Santhosh Kumar against his predecessor Manur Vasudava Maiya.
The bank is in the middle of a crisis following huge non-performing assets and Reserve Bank of India imposed restrictions from collecting deposits, lending loans and making investments.
The apex bank had also last month capped the withdrawal limit to Rs 35,000.
Kumar stated in his complaint that between 2012 and 2018, Maiya had allegedly lent money beyond his jurisdiction to various customers.
"We want stringent action against Maiya for conspiring and betraying the bank," he stated in his complaint. Imposed restrictions on depositors from drawing money last month rattled account holders. They had stormed the bank to get clarity on their investments. Later, the bank authorities said they were working to sort out the issue.
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Karnataka government employees demand return of Old Pension Scheme
Bengaluru: Government employees in Karnataka have urged the state government to scrap the New Pension Scheme (NPS) and bring back the Old Pension Scheme (OPS), The New Indian Express reported.
The demand was made by the Karnataka State Government Employees’ Association, whose leaders met senior IAS officer Uma Mahadevan on Monday and submitted a memorandum. The association asked the NPS Review Committee, headed by senior IAS officer Anjum Parvez, to recommend the reintroduction of OPS in the state.
Association president C.S. Shadakshari reportedly said the review committee has already visited Rajasthan, Himachal Pradesh, Andhra Pradesh and Telangana where NPS was revoked and OPS re-implemented. The committee is yet to submit its report, but has told the government it will do so soon.
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Shadakshari allegedly said NPS has been in force in Karnataka since 2006. He pointed out that West Bengal never adopted the scheme, while Andhra Pradesh and Telangana replaced NPS with a contributory pension model.
States including Rajasthan, Chhattisgarh, Himachal Pradesh, Punjab and Jharkhand have already scrapped NPS through cabinet decisions or budget announcements.
“Under NPS, 10% of the employees’ basic salary and DA, and 14% contribution from the state is credited to the employees’ fund. It constitutes 24% of the total which is non-withdrawable. This is invested in the share market and the final amount depends on the ups and downs of the market,” TNIE quoted Shadakshar as saying.
As per the report, he said that by limiting its contribution to 14%, the government could save up to ₹1.87 lakh crore annually if all vacancies are filled, strengthening the case for bringing back the old pension system.
