Letter Published in DH Bengaluru People's problems Column on 27Jan 20 Protect interests of Guru Raghavendra bank depositors
The recent episode of Guru Raghavendra Bank, where restrictions on withdrawal pushed many deposit holders into a panic, shows that we need urgent efforts to help the depositors. Senior citizens are depositing their hard-earned money in private banks to get a little additional interest to meet the mounting inflation.
When such is the case, the authorities should not restrict withdrawal. Any inquiry into mismanagement, not catering the deserving loan applicants and other issues should not victimise the deposit holders.
Authorities concerned should take steps to ensure that depositors’ interest is protected and allow them to recover their money.
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