The victims of CKP Bank may take consolation in the fact the Bombay high court has admitted a PIL to hear the case of the beleaguered UCB.
The matter is likely to come up shortly, according to a source. Petitions and protests have failed to move the government, RBI and top cooperative leaders. Little do they realize that such incidents drive away the trust of people from what is touted as cooperative model?
Through a circular issued in May RBI had said “the CKP Co-operative Bank cannot, without approval in writing from the RBI, grant or renew any loans and advances, make any investments, incur any liabilities including borrowing of funds and acceptance of fresh deposits, according to the central bank’s directions.”
Meanwhile, the desk of Indian Cooperative continues to receive mails from the aggrieved depositors.
Chandrashekhar Lad, one of the victims says” I am holding fixed deposits amounting to Rs 29 lahs and have Rs 130000 in savings account in Vile Parle branch. I understand that all staff are still working and are paid salaries with our money whereas the depositors do not get any money which is their own.
Why the salaries are paid to staff out of our money. Also what legal action taken against the fraudulent officials and directors/ They should be punished and put behind bar and also thrashed till they tell how the money of depositors was stolen by them.
Another victim Kamlakar Bhagwanrao Deshpande wonders what is the solution and how can RBI make it possible for depositors to withdraw their money?.
When executive fails, judiciary moves in. The case of CKP may also be finally solved by the court. Meanwhile, the depositors have to keep their fingers crossed.
I am a depositor in Thane stn branch. I agree to to keep my fingers crossed.
We all lacks of depositor and our families are with you.
If anybody keeps faith in RBI, they will be proved miserably wrong. RBI has failed and neglectged several co-operaive banks in the past ten years. They have blatently favoured take over sharks who were gobbling up the failed banks and their assets without any thought for the beleagured depositors. Communalism is also playing a big role in the whole game. If the bank is promoted and patronised predominently by minority community, they had it. They would be in for the rudest treatment. Over 3000 South Indian Co-operative Bank depositors are languishing because of the depositor unfriendly attitude of RBI, among others.
RBI is equally responsible, why only RBI, the politicians the police are co-operative society commissioner are equally responsible. i have been chasing RBI ex director for past 5 months but of no avail, i had sent mails to PMO office some movement was there. I had approached economic offence wing for action against bank promoters & RBI officers, the letter was forwarded to RBI saying that the matter was not under their jurisdiction. when informed about the matter is under purview of co op soc commissioner, I was told that the RBI should return the original letter to them for EOW to take action. Under hardship RBI has granted some amount to be released to the a/c/ depositors which again is processed by RBI at snails pace. a applicant down with kidney problem having 20lakhs in his a/c went for this scheme & had applied in month of JUne, till 10th oct 2014 his application ws not sanctioned on 10 he met RBI officials who dug out his application & assured him within 15 days he will get 1 lakh. he never received it till 24th Nov, when i had contacted the acting chief general manager about the delay she brazenly says the application was sent late by CKP bank. HERE IS LADY OFFICER WHEN THE APPLICATION IS LYING UNDER HER NOSE IN THE UBD DEPT FOR 45 DAYS HAS COURAGE TO SAY THEAPPLICATION WAS SENT LATE BY CKP BANK. DURING THE DISCUSSIONS SHE WAS ALWAYS ASKING ME TO HOLD DHARNA & PRESSURISE ALL THE POLITICIANS CKP BANK OFFICIALS INSTEAD OF MAKING RBI RESPONSIBLE FOR DELY IN PROCESSING THE APPLICATIONS!!!! SHE IS NOT READY TO DIVULGE ANY DETAILS PERTAINING TO THE RECEIPTS OF HARDSHIP FORMS AT THEIR END.