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MP Tejasvi calms Raghavendra bank depositors, says situation unlike PMC

News Karnataka 2020-01-14 17:56:28

Image Source: ANI

Bengaluru: Bengaluru South MP Tejasvi Surya, on Tuesday, January 14, tried to allay the fears of the depositors of the Sri Guru Raghavendra Sahakara Bank, stating that the situation is not like that of the Punjab and Maharashtra Cooperative (PMC) Bank.

Speaking to the media on Tuesday, the MP, whose family also holds accounts in the bank, assured that the government is committed to protecting the interests of the depositors.

He added that Finance Minister Nirmala Sitharaman is closely monitoring the situation.

Bank management meets RBI

President of the bank, Ramakrishna said that the customers of the bank need not panic. He said that the management met with the RBI to discuss the issue and requested them to relax the restrictions imposed on the bank.

They also reportedly discussed the reasons behind the bank being placed under moratorium.

Allaying the fears of the depositors, Ramakrishna said, "The bank has not gone bankrupt. The depositors' money is safe."

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