Bengaluru depositors don’t get chance to interact with PM Modi

BENGALURU: A large number of customers from bankrupt cooperative banks were disappointed as they were not given an opportunity, as scheduled, to interact with Prime Minister Narendra Modi at the ‘Depositors’ First: Guaranteed time-bound payment up to Rs 5 lakh’ programme held virtually across the country on Sunday.

At the Bengaluru event, held at the Urban Zilla Panchayat auditorium, nearly 100 aggrieved customers of Sri Guru Raghavendra Sahakara Bank Niyamitha gathered around Union Minister Prahlad Joshi and MP Tejasvi Surya and demanded the return of their entire deposits. 

“I have lost over Rs 40 lakh and getting Rs 5 lakh is nothing,” remarked a customer, Pratap. Another depositor Sheshagiri Rao said of Rs 9 lakh he had in a joint account with his wife Bhavani and they got Rs 5 lakh. He wanted the rest of the money as the family is in distress. “The accused have gone scot-free. They should be caught and given stringent punishment,” the customers urged the two leaders.

Deputy Commissioner J Manjunath explained to them that the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act was amended to increase the deposit insurance cover from Rs 1 lakh to Rs 5 lakh. The DICGC released the first installment of claims on November 29, 2021 as intermediary relief. 

After the PM’s video address, the audience felt disillusioned as an interaction with the PM that was scheduled got cancelled. Lead bank officials handed over Rs 5 lakh cheques to select beneficiaries. Bengaluru Central Lok Sabha member PC Mohan and lead bank-Canara Bank manager Subba Naik were present. Customers of The Mudhol Co-operative Bank in Bagalakote, Millath Co-operative Bank at Davanagere and Chitradurga and Deccan Urban Cooperative Bank at Vijayapura also took part in the virtual event.