Bharatiya Janata Party (BJP) leader Tejasvi Surya has assured all the depositors in Sri Guru Raghavendra Co-operative Bank to “not panic” in the wake of an order by the Reserve Bank of India (RBI) capping to ₹35,000 the withdrawal limit.
“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 said on Twitter on Tuesday morning.
His tweet also had a letter as attachment which he had written to Sitharaman apprising her about the situation.
{{/usCountry}}His tweet also had a letter as attachment which he had written to Sitharaman apprising her about the situation.
{{/usCountry}}The letter said that Surya 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 ₹35,000 of the total balance in every savings bank or current account or any other deposit account may be allowed to be withdrawn subject to conditions stated in the above RBI directions,” a notification from the bank said.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.
Many people took to Twitter to post open requests to the government and tell them about their financial situation.
“@narendramodi @PMOIndia @Tejasvi_Surya my father has all his savings for his life and my brothers wedding as deposits in Sri Guru Raghavendra Sahakara Niyamita, a cooperative bank which is clamped down by the RBI..I don’t want to lose my father for this. can someone help?” said a Twitter user Gauri Vishwanath.
“Sir, please investigate Sri Guru Raghavendra Sahakara Bank. Thousands of people are now on the streets. Please help,” said another user Satish.
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