MAPUSA: The resignation of the board of directors of the Mapusa Urban Co-operative Bank of Goa Ltd (MUCB) was unanimously accepted by the board at an emergency meeting held at the conference hall of the bank on Tuesday evening.
A letter will be sent to the Central Registrar, State Registrar and RBI informing them about the same.
It may be recalled that in July 2015, the Reserve Bank of India (RBI) had imposed an embargo on them. Now in a fresh embargo, the RBI has restricted withdrawals to customers to a limit of up to Rs 1,000 till February 2019.
If the depositors have liabilities towards the bank as a borrower or a surety, then, those liabilities would first have to be cleared before the withdrawal of Rs 1,000 is allowed. According to the directions of the RBI, they are allowed to renew fixed deposits and accept loan recovery payments.
After this incident, the shareholders had immediately demanded the resignation of the Board of Directors of the Bank and opined that the government should take over in order to restore the working and save the funds of the depositors and shareholders.
The meeting was attended by the chairman of the bank, Gurudas Natekar; Director of the bank, Ramakant Khalap; General Manager Shailendra Sawant and others.
Gurudas Natekar said that the resignation of the Board of Directors was unanimously accepted by the board and shortly fresh elections would be held.
“Meanwhile, we have decided to contact the Central registrar and the State Register to inform them about our resignations. Till the elections of the new board this managing committee will continue to exist,” Natekar said.
