INSUBCONTINENT EXCLUSIVE:
ANI |
Updated: Jan 14, 2020 06:55 IST
Bengaluru (Karnataka) [India], Jan 14 (ANI): Days after the Reserve Bank of India (RBI) capped to Rs 35,000 the withdrawal
limit of Sri Guru Raghavendra Co-operative Bank, BJP MP Tejasvi Surya on Monday reassured account holders and said Finance Minister Nirmala
Sitharaman was personally monitoring the issue.Taking to Twitter, Surya said, "I want to assure all depositors of Sri Guru Raghavendra
Co-operative Bank to not panic
Hon'ble Finance Minister Nirmala Sitharaman is appraised of matter and is personally monitoring the issue
She has assured the government will protect interests of depositors
Grateful for her concern."The Bengaluru South MP also attached a letter in his tweet where he had appraised Sitharaman of the
situation."Finance Minister, after speaking with the RBI governor and other authorities concerned, assured Surya that the government will do
everything in its capacity to protect the interests of the depositors and the long term interests of the bank," the letter read.It said that
Surya also reached out to Sitharaman "three times on January 13" after which she reassured him that the "depositors need not panic".RBI had,
on January 10, imposed certain restrictions on Sri Gururaghavendra Sahakara Bank Niyamitha."In particular, a sum not exceeding Rs 35,000 of
the total balance in every savings bank or current account or any other deposit account may be allowed to be withdrawn subject to conditions
stated in the above RBI directions," the notification said.The regulatory body said that the bank will continue to undertake banking
business with restrictions until its financial position improves."These directions shall remain in force for a period of six months from the
close of business of January 10 and are subject to review," it said.The bank has been restricted from granting or renewing any loans and
advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to
disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and
sell, transfer or otherwise dispose of any of its properties or assets except
