Restrictions were imposed in November 2021
Chhatrapati Sambhajinagar: Depositors of the defunct Malkapur Urban Co-operative Bank, who have been struggling to regain their hard-earned money for two years, have vowed to fight for their rights. The RBI brought restrictions on the bank in November, 2021 and bank's license was canceled in July 2023, leaving thousands of depositors in shock and despair.
In a meeting held on Thursday, the members of the depositors struggle action committee said that “We are tired of making pleas and meeting officials. Now, we will not cry, we will fight. Those who took away our hard-earned money will not sleep peacefully anymore.”
Series of demonstrations
The committee has planned a series of demonstrations to put pressure on the authorities. They will begin with a protest in front of the Malkapur Urban Co-operative Bank Gulmandi branch on Friday at 10.30 am, followed by further agitations in Malkapur and even meeting with the union finance minister.
About the Malkapur Urban Co-operative Bank:
The bank had 28 branches across Maharashtra with a total deposit of Rs 1,000 crore. Seven branches were located in Chhatrapati Sambhajinagar district, serving around 40,000 accounts. As of September 11, 2023, the bank's deposits stood at Rs 669.59 crore, with Rs 217 crore deposited by 120 co-operative credit societies and the remaining Rs 452.59 crore from common depositors.