Online edition of India's National Newspaper
Wednesday, Nov 15, 2006
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Online edition of India's National Newspaper Wednesday, Nov 15, 2006 ePaper |
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Andhra Pradesh
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Hyderabad
Special Correspondent
HYDERABAD: Two depositors' organisations of the Prudential Cooperative Bank on Tuesday demanded revival of the biggest such institution in Telangana region by appointing a special officer and speeding up of the recovery of outstanding loans. At a press conference, P. Suryaprakash Rao, general secretary, Shareholders and Depositors' Association, sought disbursal of Rs. 160 crores available with the bank to the depositors without linking it to the Deposits Insurance and Credit Guarantee Corporation (DICGC) norms. While blaming the RBI for cancelling the bank's licence based on `incorrect presumptions', he wanted the liquidator to fix a time schedule for the repayments to all depositors. K. Srinivasulu, president, City branch of the Depositors' Association, demanded merger of Prudential with any public sector undertaking the lines proposed in the Vasavi Bank and transfer of all its assets so that the deposits remain safe.
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