MAPUSA: Chairman of Mapusa Urban Co-operative Bank of Goa Ltd, Gurudas Natekar on Thursday assured customers and shareholders that their money is safe and the Board of Directors met and held deliberations on the resumption of banking operations.
Addressing media persons after the meeting, the Chairman of the Mapusa Urban Co-operative Bank of Goa Ltd revealed that in July 2015, the Reserve Bank of India (RBI) had imposed an embargo on them.
Now, RBI in a fresh embargo has restricted withdrawals to customers to a limit of up to Rs 1,000. If the depositors have liabilities towards the bank as a borrower or surety then this will first have to be cleared before the withdrawal of Rs 1,000 is allowed. According to the RBI directions they are allowed to renew fixed deposits and accept loan recovery payments.
Gurudas Natekar informed that all directors of Mapusa Urban Co-operative Bank of Goa Ltd have offered to resign as the Reserve Bank of India has imposed embargo on depositors not to withdraw more than Rs 1,000.
“We have a total one lakh and twenty thousand shareholders. There are around two lakh twenty four thousand depositors who have an account with us. The shareholders and the depositors need not be afraid as the management is putting in all efforts to revoke the embargo and resume banking operations at the earliest. We have appealed to the central and state government to help us,” he informed.
“We are thankful to the help rendered by the state BJP President, Vinay Tendulkar to overcome the restrictions imposed by Reserve Bank of India,” Natekar added.
The share capital in their possession is Rs 23 crore, reserve fund Rs 50 crore, deposits Rs 340 crore, cash Rs 4 crore (approximately), bank balance Rs 23 crore, investment with government security is Rs 200 crore, advances lent to people Rs 85 crore and properties worth Rs 100 crore.
The Mapusa Urban Co-operative Bank of Goa Ltd has a total of 24 branches across Goa and an extension branch at Tivim Industrial Estate. Recently, the Reserve Bank of India has issued an NOC to sell the eleven properties owned by them which could fetch them around Rs 100 crore.
“We have decided to request the Reserve Bank of India more time but every time we approach they say they will communicate the same to their head office. The officials will visit Reserve Bank of India on Friday to clarify the order received,” said Natekar.
The Chairman and Board of Directors have appealed to the customers and other shareholders to co-operate with the management.
