Team Herald
PORVORIM: The State government has approached the Reserve Bank of India to grant relaxation to the Mapusa Urban Cooperative Bank and Margao Urban Cooperative Bank, which are currently embroiled in restrictions by the Reserve Bank of India.
Minister for Cooperation Govind Gaude informed the Legislative Assembly that they have approached the RBI to give relaxation to the two banks while also stating that government is yet to take a decision to take over or grant them financial aid.
He was speaking while replying to the demands for Grants for Cooperation on the floor of the House on Monday. He also assured to “take care” of 2.48 lakh approx shareholders of Mapusa Urban Cooperative Bank. “They will not be backstabbed,” he said.
Over the election to the Goa State Cooperative Bank, Gaude said that upcoming election procedure cannot be stalled as there have been directions from the High Court of Bombay at Goa.
