Panic stricken depositors mill around Bengaluru bank after RBI caps withdrawal limit
Bengaluru, Jan 14: Panic stricken depositors milled around the Sri Guru Raghavendra Cooperative Bank here on Tuesday to withdraw their money, days after the Reserve Bank of India capped the withdrawal limit to Rs 35,000.
The depositors, mostly senior citizens, were concerned about their money deposited in the bank and worried as to how long it might take for the situation to get resolved.
Expressing disappointment about the bank's response to their concerns, many said they put their money in the bank as it provided an additional one per cent interest.
Some depositors even compared the situation with another PMC bank like crisis.
Bank officials maintained that depositors' money was 'hundred per cent' safe and are expected to hold a meeting with them on January 19.
One such meeting that was supposed to be held on Monday could not take place.
BankChairman KRamakrishna said the bank has stability and there was no reason for depositors to worry or panic.
Stating that RBI restrictions cited the rise in Non Performing Assets, he said "NPA during last March was 0.50 per cent, but as they have taken the numbers of the last eight years, there is some confusion.
The restrictions are not permanent. It is temporary in the interest of the depositors and the bank... Banks license has not been cancelled," he said.
Requesting depositors not to fear, he further said the management was committed to set things right and the bank has a good record of over 20 years on their side.
He said the bank has not given any benami loans and has Rs 2,200 crore security.
"We are in talks with RBI to bring in normalcy...please dont panic on hearing what others are saying,'' he added.
Meanwhile, Bangalore South MP Tejasvi Surya said Finance Minister Nirmala Sitharaman has been appraised of the matter and was personally monitoring the issue.
"I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic.
Hon'ble Finance Minister Smt. @nsitharaman is appraised of matter & is personally monitoring the issue.
She has assured Govt will protect interests of depositors. Grateful for her concern," he tweeted last night.
The MP's office in a statement has said that the Finance Minister has even spoken to the RBI Governor and officials on the matter and assured Surya that the government would do everything to protect the interests of the depositors and in the long-term interest of the bank.
The RBI had directed that from the close of business on January 10 "a sum not exceeding Rs 35,000 of the total balance in every savings bank or current account or any other deposit account by whatever name called, may be allowed to be withdrawn by a depositor."
According to sources, RBI's restriction was because the bank had seen a default of Rs 350 crore on loans over the past three months.
I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic.
— Tejasvi Surya (@Tejasvi_Surya) January 13, 2020
Hon’ble Finance Minister Smt. @nsitharaman is appraised of matter & is personally monitoring the issue. She has assured Govt will protect interests of depositors. Grateful for her concern. pic.twitter.com/pmoAcUFAu7
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BJP worker’s 16-year-old son allegedly casts eight votes in Uttar Pradesh’s Farrukhabad; Video viral
Lucknow (Farrukhabad): A viral video has surfaced showing a 16-year-old son of a BJP worker allegedly casting eight votes to the saffron party during the ongoing general elections in Uttar Pradesh. The video has sparked controversy, and the opposition has urged for prompt action from the Election Commission of India, reports scroll.in.
The video shared by the Samajwadi Party President Akhilesh Yadav on micro-blogging site ‘X’, showed the youngster recording himself while casting multiple times in a series of instances. The incident reportedly took place in Khiri Pamaran village, which falls under the Aliganj Assembly constituency within the Farrukhabad parliamentary seat. Mukesh Rajput, the sitting MP, is the BJP candidate in this constituency. Polling in Farrukhabad occurred on May 13 during the fourth phase of the general election.
In the viral video, the youngster is seen casting eight votes in total, all for the BJP, one by one with different clippings.
The youngster in the video has been identified as Rajan Singh Thakur, confirmed his father, Anil Singh Thakur to the Scroll.in. Anil Singh Thakur is the gram pradhan (village head) of Khiri Pamaran and a member of the BJP.
Anil defending his son told the Scroll that the ‘Video misrepresented his son,’ and claimed that the voting was done when the machine was being tested in some instances and other clipping of him voting on behalf of mentally and physically disabled voters was merged and made into a video.
Despite the Anil's caims, the video has drawn significant criticism. Subhash Chandra Prajapati, the additional district magistrate of Farrukhabad, confirmed to the Scroll that the administration will file a case soon. He mentioned that the returning officer is investigating the matter following a directive from the chief electoral officer in Lucknow.
The opposition has been vocal in its criticism, with Akhilesh Yadav demanding action from the Election Commission. In his social media post, Yadav accused the BJP of undermining the electoral process and described the party's booth committee as a "loot committee." The Congress party also called on the Election Commission to take action, in a ‘X’ post the party wrote, “Dear Election Commission…are you watching..a boy is voting 8-8 times ... .at least wake up now.”
Congress leader Rahul Gandhi, took to ‘X’ to express, “Fearing and seeing their defeat, the BJP is attempting to undermine democracy by pressuring government machinery to deny the mandate. The Congress expects all officers performing election duties to remember their constitutional responsibilities despite any pressure from those in power. Otherwise, once the Indian National Developmental Inclusive Alliance (INDIA) bloc government is formed, actions will be taken to ensure that anyone will think ten times before violating their 'Oath to the Constitution'."
Following the video's circulation, Naval Kishor Shakya, the Samajwadi Party candidate in Farrukhabad, filed a complaint with the district election officer. Shakya's complaint alleges that Rajan Singh Thakur cast votes after snatching voter information slips from other voters and that he was assisted by Dinesh Thakur, the local police station's station house officer. Shakya has called for re-polling at the affected polling center.
In a related incident earlier in May, Gujarat Police arrested two BJP workers for allegedly casting bogus votes and live-streaming the act on social media in the Dahod constituency. The Election Commission conducted re-polling at the affected booth following the incident.
The opposition INDIA bloc, including the Congress and the Samajwadi Party, has repeatedly accused the Election Commission of failing to take prompt action against election model code of conduct violations.
अपनी हार सामने देख कर भाजपा जनादेश को झुठलाने के लिए सरकारी तंत्र पर दबाव बना कर लोकतंत्र को लूटना चाहती है।
— Rahul Gandhi (@RahulGandhi) May 19, 2024
कांग्रेस चुनावी ड्यूटी कर रहे सभी अधिकारियों से यह अपेक्षा करती है कि वो सत्ता के दबाव के सामने अपनी संवैधानिक ज़िम्मेदारी न भूलें।
वरना INDIA की सरकार बनते ही ऐसी… https://t.co/fk4wXL8QZy
