MARGAO: The aggrieved depositors who have money saved in the accounts of Madgaum Urban Co-Operative Bank have raised concerns over the amount of time the bank is taking to release their funds.
The depositors have pointed out that the bank had promised that their funds would be given to them 45 days after they submit their details. However, they pointed out that it’s nearly 90 days but the funds have not been released.
They lamented that their funds have been held up at the bank since mid 2019 due to the issues the bank is facing and questioned why the authorities are not taking quicker action into the matter.
The depositors have urged the authorities to ensure that they get their money back as promised without any further delay.
It may be recalled that earlier this year, the Reserve Bank of India had cancelled the licence of bank.
