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Madgaum Urban depositors demand more withdrawals
06 Aug 2020 06:33 PM
Depositors of Curtorim's branch of Madgaum Urban Cooperative Bank Limited have demanded that they be allowed to withdraw more money than that mandated by Reserve Bank of India.
On Thursday the depositors along with their legislator Alex Reginald Lourenco marched to the Curtorim branch of Madgaun Urban Cooperative Bank to put forth their demands.
The depositors have decided to convene another meeting on Saturday. The Curtorim branch has 32 crore rupees deposits and total account holders are 8,000.
The bank is set to merge with another cooperative bank by December.
The banks trouble started when it was discovered that it had inadequate capital and earning prospects.
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