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B’luru: Depositors of Guru Raghavendra Cooperative bank protest seeking quick resolution from RBI

04:08 PM Jan 11, 2021 | Team Udayavani |

Bengaluru: Several depositors of Bengaluru-based Sri Guru Raghavendra Cooperative Bank staged a protest on Monday urging Reserve Bank of India to resolve their issues

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As reported by NDTV, The bank hogged the headlines in January when the Reserve Bank of India (RBI) began its investigation into the financial irregularities amounting to over ₹1,400 crore

After which, the bank was not allowed to carry out any further transactions, and the amount of withdrawal was limited to ₹35,000 for each depositor. The depositors had thronged the bank to withdraw the permitted amount. Later, the withdrawal amount was raised to ₹1 lakh in June

The protestors alleged that they had trusted this bank because of the good feedback from Reserve Bank of India but now RBI’s negligence has affected several depositors

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