Wednesday, Feb 23, 2005
Wednesday, Feb 23, 2005 |
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Advts: Classifieds | Employment | Andhra Pradesh
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Hyderabad
By Our Staff Reporter
HYDERABAD, FEB. 22. The Prudential Cooperative Bank Shareholders and Depositors' Welfare Association and employees of the bank demanded that the bank's alleged mismanagement case be handed over to the CBI as the CBCID "was incapable of handling it." "Two years have passed by and no tangible progress has been made so far in the investigation and bringing the culprits to book," the association general secretary, Pattem Surya Prakash Rao, said in a statement. The association passed a resolution to that effect at a meeting here on Monday. The meeting sought immediate steps for the revival of the bank, including withdrawal of the cancellation of banking licence letter and efforts to merge it with any other nationalised bank, APCOB or any other multi State cooperative bank.
Monthly interest
It also appealed to the Registrar of Societies, Andhra Pradesh, to arrange payment of monthly interest to depositors, most of whom were retired employees and senior citizens who had deposited their savings and VRS amounts. Similarly, payment of matured deposits till date and Rs. 20,000 in cash was also demanded. The association also sought appointment of a Special Officer in place of the bank liquidator, who could be assisted by a board of management, comprising representatives of shareholders, depositors, employees of the bank, besides two nominees of the State Government. The meeting also lauded the efforts of bank employees who had made recoveries to the tune of Rs. 195 crores and voluntarily accepted a cut in their salaries and allowances.
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