The matter is likely to come up shortly, according to a source. Petitions and protests have failed to move the government, RBI and top cooperative leaders. Little do they realize that such incidents drive away the trust of people from what is touted as cooperative model?
Through a circular issued in May RBI had said “the CKP Co-operative Bank cannot, without approval in writing from the RBI, grant or renew any loans and advances, make any investments, incur any liabilities including borrowing of funds and acceptance of fresh deposits, according to the central bank’s directions.”
Meanwhile, the desk of Indian Cooperative continues to receive mails from the aggrieved depositors.
Chandrashekhar Lad, one of the victims says” I am holding fixed deposits amounting to Rs 29 lahs and have Rs 130000 in savings account in Vile Parle branch. I understand that all staff are still working and are paid salaries with our money whereas the depositors do not get any money which is their own.
Why the salaries are paid to staff out of our money. Also what legal action taken against the fraudulent officials and directors/ They should be punished and put behind bar and also thrashed till they tell how the money of depositors was stolen by them.
Another victim Kamlakar Bhagwanrao Deshpande wonders what is the solution and how can RBI make it possible for depositors to withdraw their money?.
When executive fails, judiciary moves in. The case of CKP may also be finally solved by the court. Meanwhile, the depositors have to keep their fingers crossed.