The Hindu Business Line : AP co-op bank victims stage rally

HYDERABAD: Hundreds of victims of crisis-ridden co-operative banks took out a rally in the city urging the RBI to take measures to return their deposits siphoned off by the banks.

Led by Mr C.C. Reddy, Founder-Trustee of Visu Trust, the victims met Mr Chandrasekher, Deputy General Manager of RBI, and submitted a memorandum, listing their demands. The victims asked the apex bank to take the responsibility for the state of affairs and give them a word that their monies would be returned.

"Take serious actions against the erring officers of the RBI who have failed in discharge of their duties and responsible for this tragedy," the victims said. They also demanded that representatives of the victims must be involved in all negotiations to decide the future of the banks. According to a Visu Trust statement, Mr Chandrasekher assured the victims that he would take up the matter with higher ups in Mumbai.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Huge forex reserves is handy tool for RBI

Rupee firmer; gilts gain

United Western net up 6.7 pc

ACCBank selects Flexcube

RBI to inspect bank chests

SBI Mutual to ride on parent's network

Plan to rope in more banks for collection of tax dues

Dist administration helps banks recover dues

Jalan rules out repo rate cut

AP co-op bank victims stage rally