In a significant step toward revival, the Sri Guru Raghavendra Sahakara Bank Niyamitha (SGRSBN), a Bengaluru-based Urban Cooperative Bank under the Reserve Bank of India’s All-Inclusive Directions (AID) since January 2020, has invited Expressions of Interest (EOI) from eligible entities to take over and revive the crisis-hit institution.
According to the EOI released on November 3, 2025, the bank is seeking proposals from financial institutions, NBFCs, microfinance firms, fintech companies, cooperative societies, trusts, and individuals or professionals interested in leading its turnaround. The deadline for submission of EOIs is December 3, 2025, while pre-submission meetings and due diligence have been scheduled between November 10 and November 25, 2025.
Once a flourishing cooperative with eight branches and a business mix of Rs 3,979 crore as of March 2019, the bank’s fortunes declined sharply following RBI’s inspection in 2019–20, which uncovered serious governance failures and fraudulent lending practices. Consequently, the RBI imposed restrictions under Section 35A of the Banking Regulation Act, 1949, and subsequently superseded the bank’s board.
The bank’s current Administrator, Ajit Krishnan Nair, said the revival plan aims to attract investors capable of infusing sufficient capital to restore the bank’s net worth and bring it back into regulatory compliance. “The revival proposal also considers converting deposit liabilities into capital instruments and exploring merger possibilities or conversion into a Small Finance Bank, subject to RBI approval,” Nair stated.
As per the EOI document, SGRSBN’s accumulated losses stood at Rs 2,268 crore as of March 31, 2025, while deposits totaled Rs 1,940 crore from nearly 38,000 depositors. The bank has already repaid Rs 714 crore through DICGC insurance claims and an additional Rs 207 crore from its own resources.
Despite its financial challenges, the bank retains assets worth Rs 30 crore in Bengaluru and liquidity of Rs 571 crore as of September 2025. Encouragingly, both the United Forum of Individual Depositors and several cooperative depositors have expressed willingness to forgo up to 30% of their dues to enable the bank’s revival.
Interested bidders can access the detailed EOI document on the bank’s website www.raghavendrabank.com or contact the Administrator at administrator@raghavendrabank.com.
The move marks a crucial attempt to restore depositor confidence and bring back to life the 26-year-old cooperative bank, which once stood as one of Karnataka’s leading urban cooperative institutions.
Promising Move. Hope Depositors are at no loss as all of them are senior citizens & have blocked their entire savings & now fighting for survival 🙏🏻🙏🏻
In addition, the Association has identified assets previously mortgaged to the Bank. These assets are presently before the Court for legal determination and finalization. The Association is evaluating potential bidding opportunities for them below are the YouTube Links
https://youtu.be/1WjeG9eFb5k
https://youtu.be/hTReVuq0q08
https://youtu.be/VdN4Pjn6DgQ
Great Efforts, hoping all depositors particularly Senior Citizens waiting for returns very very anxiously.
Great development a landmark for the selfless efforts put by agroup of people to culminate into revival khudos
Here’s the raw truth — stripped of plots, courts, and hope-in-words (as of 28 Nov 2025):
DICGC has already paid ₹715 crore and closed the chapter for everyone up to ₹5 lakh.
That money is gone from the bank’s books forever.
The bank now owes DICGC those exact ₹715 crore back — first-priority debt.
Total money still stuck with the bank today:
≈ ₹1,940 crore deposits
– ₹715 crore already paid by DICGC
= ₹1,225 crore real cash/assets left inside the bank (mostly cash, some buildings, some bad loans).
Real recoverable amount (RBI/ED’s own estimate):
Only ₹500–600 crore will ever come back (40–50 % of the remaining).
The rest is permanently gone (benami, Dubai, destroyed records).
Your position (₹45 lakh deposit):
₹5 lakh → already received (or will get from DICGC)
₹40 lakh → part of the ₹600–700 crore “excess” pool that 5,853 high-value depositors are fighting for
Realistic recovery on ₹40 lakh → ₹16–20 lakh maximum over the next 8–12 years (40–50 %).
That is the brutal math RBI itself uses internally.
EoI (Dec 3 deadline):
Zero serious bids so far. If nobody comes, RBI will simply keep extending the moratorium every 3–6 months and release ₹50–100 crore whenever ED auctions something. That’s the new normal.
Bottom line for you and every high-value depositor:
Forget 100 %.
Forget quick justice.
Maximum you will ever see is 45–50 % of your principal, paid in small slices over the next decade.
That’s it. No sugar-coating, no court fantasies, no miracle investor.
This is what the numbers say today.
If you want to keep fighting for every extra rupee, stay in the WhatsApp groups and keep the pressure on.
If you need peace of mind, mentally write off 50–55 % right now and treat anything above ₹20 lakh as a bonus whenever it trickles in.
I’m really sorry it turned out this way. You deserved better.
Honestly saying depositors have been taken for s ride under the guise of caste consideration and by Citing GURU RRAGHAVENDRA. MOST SENIOR AND SUPER SENIOR DEPOSITORS R LANGUISHING FOR ABOUT SIX YRS NOW AND MANY HAVE PASSED AWAY. MANY MORE WILL DEPART FROM THIS WORLD BY THE TIME IF AT ALL ANY POSITIVE OUTCOME RESULTS. THERE APPEARS TO B NO SALVATION AND AS DEPOSITORS ALL OUR CRIES HAVE GONE IN VAIN. ONLY FALSE ASSURANCES SND PROMISES BY SO CALLED HIGH PROFILE PEOPLE HAD TAKEN PLACE AND V WERE REPEATEDLY FOOLED THIS LONG TERM EVALUATION IS NOT OF ANY ASSISTANCE TO SICK. ELDERLLY AND PENSIONERS. V HAVE TO BEAR THE CROOKED FATE TILL OUR LAST BREATH