Uddhav Thackeray can learn from Odisha Chief Minister Naveen Patnaik as the latter has instructed his men to refund depositors’ money up to Rs 1 lakh out of the funds available with the liquidator of the Urban Cooperative Bank (UCB) Bhubaneswar.
The UCB which is now no longer functioning had made several attempts to merge itself with other banks but to no avail.
The balance requirement of Rs 6.48 crore towards payment up to Rs 1 lakh should be paid from the available balance fund of the bank as approved by the DICGC, the letter issued by the state govt. says.
Earlier, the cooperative department had approached the State Government seeking permission for refund of Rs 15,16 crore to 6,446 depositors.