Karnataka - Hubli-Dharwad   

`Release entire amount under revival package'

Staff Correspondent

HUBLI: MLC Basavaraj Bommai has urged the Government to take steps to release the remaining amount of the package announced for revival of the Karnataka Central Cooperative Bank in Dharwad.

In a letter to Chief Minister H.D. Kumaraswamy, which was released to the media, Mr. Bommai urged the Government to appoint the Deputy Commissioner of Dharwad as the administrator of the bank.

The Government had announced a revival package for the bank in 2003, under which it has now released Rs. 14.6 lakh. The amount has been deposited in the Apex Bank now. According to the package, Apex Bank has to release its share of Rs. 7.3 lakh to the KCC bank, Mr. Bommai has said.

Mr. Bommai urged the Chief Minister to take steps to release the Rs. 14.6 lakh, and also the share of Apex Bank, which would come to Rs. 21.9 lakh.

Mr. Bommai appealed to the Chief Minister to release the remaining amount of the package. There was lack of coordination between the Managing Director and Board of Directors, which has forced the Apex Bank to withhold the release of funds to the bank, he said.

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