Andhra Pradesh   

Let SBI take over Prudential Bank, says Dattatreya

By Our Staff Reporter

HYDERABAD, FEB. 8. The Union Minister of State for Urban Development, Bandaru Dattatreya, has appealed to the Union Finance Minister, Jaswant Singh, to take steps for the takeover of scam-rocked Prudential Bank by State Bank of India (SBI).

Mr. Singh had assured to take up the matter with Reserve Bank of India (RBI), Mr. Dattatreya said at a press conference here on Sunday. He said the SBI with an asset base of Rs. 800 crores was making profits and it would not alter the position if the Prudential Bank with reserves of Rs. 200 crores was amalgamated into it.

The Prudential Bank had provided loans of Rs. 560 crores out of which the recovery was possible only to an extent of Rs. 83 crores. The bank had non-performing assets of Rs. 360 crores, making its revival almost impossible. He said 1.30 lakh small depositors would be affected if the bank was not revived. They were already denied the interest payment. Mr. Dattatreya said he would meet the RBI Governor to seek merger of the bank with the SBI.

Mr. Singh promised to consider another request of Mr. Dattatreya for withdrawal of Central subsidy for handloom weavers as it was knocked off by mediators.

Demolitions at Tirumala

At a separate meeting with the Chief Minister, N. Chandrababu Naidu, here on Sunday, the Union Minister took up the issue of demolition of ancient constructions near the temple on Tirumala hills as it involved the sanctity of the place.

Mr. Naidu issued orders to the Tirumala Tirupati Devasthanam authorities to stop the demolition and asked the Executive Officer and the Joint Executive Officer to visit Hyderabad and discuss with Chinna Jeeyar Swamy and other religious leaders on how to go about the work of implementing the master plan, he added.

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