President of the management board of the Imphal Urban Cooperative Bank has rubbished all allegations leveled by two shareholders recently.
Addressing reporters he said the two members had given vent to their personal frustration as they have not been able to get themselves elected to the board of directors of the bank. A legal action would be initiated against them for making baseless allegations.
The president made it clear that his bank has a strong financial background and it is not tainted by any scandals or irregularities.
According to the general manager of the bank, the bank operates in a transparent manner and its transactions are regularly audited by the RBI.