Sunday, Jul 11, 2004
Sunday, Jul 11, 2004 |
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Advts: Classifieds | Employment | Obituary | Andhra Pradesh
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Hyderabad
By Our Staff Reporter
HYDERABAD, JULY 10. The Prudential Co-operative Bank Shareholders and Depositors Welfare Association has appealed to the Chief Minister, Y. S. Rajasekhara Reddy, to sanction Rs. 300 crores to the bank at nominal interest to facilitate its revival or merger with nationalised banks. The association general secretary, Pattem Surya Prakash Rao, said that many retired persons who had deposited their terminal benefits in the bank and many others, had no other income other than the interest they earned on their deposits. They had been going through a harrowing time since the bank's closure. Some of them had died due to ill health unable to afford treatment and a few others committed suicide out of despondency. The Chief Minister who had responded to the plight of farmers should also consider the plea of the depositors and the shareholders and take measures for the revival of the bank, he said. A new board with an IAS officer as chairman and five shareholders, two depositors and one from the bank staff be constituted to run the back efficiently, he added. He said the Government could sanction the loan keeping the documents of the borrowers or by pledging these mortgaged documents with some other nationalised bank to secure a loan of Rs. 300 crores at 0.50 paise interest on the lines of loans given to DWCRA women groups at 0.25 paise interest.
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