Karnataka - Bijapur   

Shareholders, depositors of Siddeshwar bank to meet today

Staff Correspondent

BIJAPUR: Shareholders and depositors of Siddeshwar Cooperative Bank Niyamit are scheduled to meet on Wednesday to discuss ways to save the the bank that is on the verge of liquidation.

Informing this at a press conference here on Tuesday, the president of newly- formed action committee of the bank's shareholders and depositors, Ramesh Bidanur, said the level of non-performing assets (NPA) of the bank had reached 43.71 per cent and was increasing every day.

The moment it reached 50 per cent, the bank would be liquidated as per the law, he said. Hence they were urging the Government to intervene and save the bank that served the region for nearly 100 years. It was Government's duty to safeguard the interest of over 23,000 shareholders and account holders, he said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Shareholders, depositors of Siddeshwar bank to meet today

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu