The management committee of the beleaguered Baripada Urban Co-operative Bank in Odisha has urged chief minister Navin Patnaik to help the bank overcome its existential crisis, reports The Pioneer.
A source is quoted saying the bank has been trying its best to go operational once again.
A source familiar with the bank’s financial background puts the bank’s prolonged crisis down to the state government’s indifference towards the Mayurbhanj region.
The bank was established in 1958 and started functioning on April 24, 1960. The bank has a total of 25,731 share-holders, 72,324 depositors and 2,953 loanees.