Team Herald
MARGAO: Finally, the Madgaum Urban Co-Operative Bank (MUCB) has decided to close all the nine branches located in the State with effect from April 1, 2022. And at the same time the services of all 58 staff will also be terminated.
S V Naik, liquidator on Tuesday issued a public notice in this regard, and accordingly branches located at Margao, Sanguem, Old Market (Margao), Curtorim, Benaulim, Panjim, St Andre (Goa Velha), Aquem Alto (Margao) and Ponda will be closed.
It is pertinent to note that the banking licence of the Madgaum Urban Co-Operative Bank Ltd was cancelled vide Reserve Bank of India (RBI) order date July 27, 2021. Consequently, upon request from the RBI, the Registrar of Co-Operative Societies, Government of Goa have appointed S V Naik as the liquidator for the bank for commencement of winding up the business of the bank.
Few days back, the bank issued a notice to 250-odd locker holders to surrender the lockers and take custody of their valuables.
The bank had warned that the locker holders who do not surrender their lockers run the risk of their lockers being forcefully opened. It may be recalled that the bank had earlier issued registered notices to the customers who availed of the locker facility, and who had failed to surrender them by September-end.
As part of the liquidation proceedings, the customers were also given two months to file their claims for the deposits and clear all outstanding dues. However, according to Naik, only a small number of depositors have filed their claims so far.
Speaking to Herald, Kishor Amonkar, managing director of the MUCB said that they are in the process of closing all the functioning of the bank.
“Today we have issued a notice saying March 31 is the last day. However, all the payments will be done, as the formalities are already completed. As per the insurance cover, upto Rs 5 lakh will be paid, and amount above will be paid by the liquidator,” he stated.
He further informed that the due amount to be paid is above Rs 120 crore, and out of 56, 000, around 10, 000 depositors have claimed for their deposits. The due amount will be released by the end of March.
“These 10, 000 depositories are those who have applied for the withdrawals. After closure of the branches, the depositors who have applied for the withdrawal will have to approach the head of the bank at Margao,” Amonkar said.
He said, “The recovery will be done as per the procedure laid down by the RBI.”
“As the branches will be closed down for any further transactions the services of all the staff will be terminated, which are 58 in number,” Amonkar said, when asked.
It has been brought to the notice that still several lockers are not yet closed, despite informing the lockers holders, wherein there are 250 lockers.
“Last week we had issued a notice to the locker holders, but did not receive a good response. Maybe they have taken their belongings and want us to close the lockers,” he stated.
He also said that the bank will forcefully open the lockers which are not claimed or applied by the holders, and will shift the belongings to the head office, if found till the locker holder claims for the same
