All payments suspended at Co-operative Bank

CONSUMERS ARE facing great inconvenience with the payment process completely suspended for months at the Badlapur branch of the District Co-operative Bank. They are so fed up that they are now set to launch a movement and have already warned the bank authorities in this regard.

CONSUMERS ARE facing great inconvenience with the payment process completely suspended for months at the Badlapur branch of the District Co-operative Bank. They are so fed up that they are now set to launch a movement and have already warned the bank authorities in this regard.

HT Image

It is to be noted that a huge amount involving several lakhs of rupees of traders, schools, scholarships, widow and old age pension etc has remained at the bank for the past six months.

The locals in the area said that even to secure the payment of small amount, one has to vist the bank several times.

Expressing deep anguish over the problem, the principal of Saltanat Bahadur Inter College, Ramakant Shukla, said that the college is in great financial crisis as several lakhs of rupees are deposted with the bank. Similarly, BRC Bharat Yadav said that due to non-payment, they are unable to carry out any kind of training.

The worst-hit are those poor students who are not getting scholarship money as the money is deposited in the bank. The scholarship dues to be paid by the bank amounts to about Rs 1.5 lakh. Branch manager Avinash Singh, when contacted in this regard, said that the bank had deposited Rs 3 crore with the main branch.
However, for some reason or other payments were not being made to the branch. At the same time, about Rs 1 crore towards sale of seeds and fertilizer through co-operative committees in the area was also due.

Because of poor recovery, payment was not being made there. Under these circumstances payment to consumers had been stopped, he said.