70 of the remaining 100 employees of the Mapusa Urban Cooperative Bank (MUCB) of Goa will lose their jobs from July this year. The downsizing is aimed to liquidate the bank which went belly up several years ago, reports Herald from Goa.
The new liquidator of the bank is quoted saying while liquidating the bank all government norms are being followed. He indicated that the claims of over a lakh of investors would be settled.
It is worth mentioning that a team of investors has been fighting the battle for the last six years. It is said out of 397 members only 85 members have got an amount of Rs 1.029 crore till May this year.”
