Southern States - Andhra Pradesh-Hyderabad   

Prudential depositors on the warpath

By Our Staff Reporter

HYDERABAD Nov. 11. The Depositors Association of Prudential Cooperative Bank has come down heavily on the State Government and bank authorities for the inordinate delay in coming to the rescue of the financially crippled depositors who were totally dependent on the interests accrued from their deposits.

In view of the dire straits the depositors were in and the "lack of justification from the State Government and the bank," the association called for a general body meeting of the depositors on November 23 at Nagarjuna community hall, Street no. 14, Nagarjuna Nagar, Tarnaka, to chalk out a do-or-die agitation programme to get back their monies. The decision was taken at a meeting of the association members held here on Monday.

"Despite repeated representations to the Chief Minster, Home Minister, Principal Secretary, Cooperation, Registrar of Societies, Governor, Reserve Bank of India and persistent enquiries and pursuance of the matter, the financial problems of the depositors have remained unsolved. It is high time the depositors fight collectively and firmly to get back their deposits as it was a now-or-never situation or else they stand to lose for ever," the association president K. Srinivasulu maintained in a statement here on Monday.

He said the ways and means to carry out the agitation programme, be it by way of dharnas or hunger strike, and issues like payment of due interest and matured deposits, safety of pre-mature deposits, commencement of savings bank and current accounts and so on would be discussed. The depositors can contact K. Srinivasulu (27172668), L.V. Ramana (27002655), B. Ompakash (27173141) for further details.

Insurance amount disbursed

The Manikanta Cooperative Urban Bank distributed insurance amount to its depositors released by the Depository Insurance and Credit Guarantee Corporation here on Tuesday.

The District Cooperative Officer, Amarendar Rao, and the Golconda Divisional Co-operative Officer, V. Bhaskarachari, deposited cheques to the depositors.

The Official Liquidator, Manikanta Cooperative Urban Bank, in a release said that deposit and account holders of the bank could submit their respective claims in the bank along with necessary documents and photos.

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