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Taking to Twitter Tejaswi wrote, “I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic. Hon’ble Finance Minister Smt. @nsitharaman is appraised of matter & is personally monitoring the issue. She has assured Govt will protect interests of depositors. Grateful for her concern.”
The Reserve Bank of India (RBI) had curbed a Bengaluru-based private co-operative bank from doing business with immediate effect for alleged irregularities in transactions.
“Sri Guru Raghavendra Sahakara Bank in Bengaluru shall not, without prior approval of the RBI in writing, grant or renew loans and advances, make an investment, borrow funds or accept fresh deposits from January 10, 2020,” the RBI said in a directive was quoted speaking to IANS.
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“The private bank will also not disburse payment whether in discharge of its liabilities and obligations or otherwise, enter into compromise or arrangement and sell, transfer or otherwise dispose its properties or assets except, as instructed on January 2, 2020,” said the directive.