Team Herald
MARGAO: The depositors of the Madgaum Urban Cooperative Bank (MUCB), Curtorim branch have served a 10-day ultimatum to the bank authorities to facilitate withdrawal of their savings failing to which they have threatened to launch an agitation.
Tenants and Farmers of Curtorim, who are depositors, pleaded to the bank officials for withdrawing their money.
The Manager, Managing Director and the Vice Chairman of the Madgaum Urban Bank that have been placed under the directions by the Reserve Bank of India held their first one-to-one interaction meeting with the depositors at the Curtorim branch on Monday.
The depositors, who visited branch in large numbers, pleaded to the authorities to return their money between August and December. The depositors have given ultimatum to either give a confirmed assurance or face an agitation of the over 8000 depositors and shareholders.
A depositor said, “We don’t have money. Give us our money. We will take this fight to the court”.
Of the thousands of account holders, there are farmers, who have their agriculture season for which they need money. The members of comunidade under which there are several tracts of agricultural land said they need to answer their tenants who need money.
The bank representatives, who were present for the meeting, said there was discussion with TJSB and PMC Bank, but even after attempting the merger it did not go through. They informed that the RBI was going for liquidation after waiting till August. However, after the RBI was empowered to merge any bank, now, the bank’s board has again approached the RBI and have asked it to take decision in the interest of the depositors.
“We have approached and applied with at least 50 banks for merger. Only two reverted,” the officials informed.
Curtorim MLA Aleixo Reginaldo Lourenco said, “At least some relief be given to the people who are depositors as they need their money. After the 10-day ultimatum ends, we will meet the officials again,” he added.
