Security audits must for banks, says RR Patil | mumbai | Hindustan Times
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Security audits must for banks, says RR Patil

In the wake of the growing number of banks being looted in the state, home minister RR Patil said, on Thursday, that banks needed to be more vigilant and should conduct the mandatory security audits as per the rules laid down by the Reserve Bank of India (RBI).

mumbai Updated: Oct 15, 2010 02:57 IST
HT Correspondent

In the wake of the growing number of banks being looted in the state, home minister RR Patil said, on Thursday, that banks needed to be more vigilant and should conduct the mandatory security audits as per the rules laid down by the Reserve Bank of India (RBI).

The most recent incident bank robbery happened on October 9, when four masked and armed men looted Rs 20 lakh from a branch of the Saraswat Bank in Charkop, Kandivli (East).

The Maharashtra Urban Cooperative Banks Federation met the home minister on Thursday where they expressed concern over security issues at the city’s numerous banks.

RR Patil told the federation that covers cooperative and state banks, that there would be a quarterly meetings that the police chiefs would have with the heads of banks, where they would take down detailed information on issues the banks were plagued by.

The state home minister also said that the principal secretary of the home department would be looking into settling any security issues that may arise. “We will provide necessary police protection for banks,” he said.

The federation, in turn, has promised Patil that interest rates would be reduced for policemen who want to avail of loans.