Depositors rally against Malkapur Urban Co-operative Bank

Four-hour long protest demanding return money

Chhatrapati Sambhajinagar: Depositors of the now-defunct Malkapur Urban Co-operative Bank took to the streets on Friday in a four-hour-long protest outside the Malkapur branch in Gulmandi. Frustrated by a two-year struggle to retrieve their hard-earned money, the protestors demanded justice and answers from the bank officials.

The Depositors Struggle Action Committee, leading the protest, vowed to continue their fight until rightful restitution is made. Committee members insisted on receiving essential documents such as the list of directors, depositors, defaulters, and audit reports to initiate legal action. Displaying banners, hundreds of depositors gathered, urging action against those responsible for the financial debacle.

Inside the bank, committee officials pressed the bank manager for accountability. The protestors called for the appointment of an administrator, the arrest of implicated chairman and directors, the seizure of their assets, and the swift return of the embezzled funds.

Depositors narrate their ordeal

Eknath Joshi, a senior depositor, shared his plight, revealing that he and his wife, both former government employees, had invested nearly Rs 60 lakh in fixed deposits. The sudden restrictions imposed by the RBI and subsequent license cancellation left them grappling with financial uncertainty in their old age. Another depositor, Pandurang Solanke, highlighted the urgency of the situation, citing his health issues and the need for medical care.