According to a media report doing the rounds, the depositors of Rupee Bank who are not able to withdraw their money from the UCB have threatened to exercise NOTA in the upcoming Lok Sabha elections.
The depositors say that they have met all the top political leaders including Nitin Gadkari and Arun Jaitley but none of them have come forward to help the innocent depositors. “We have no option but to reject the callous political class”, they added.
At present, the total liabilities of Rupee Cooperative Bank are around Rs 1364 crore and the bank has ready realizable assets of Rs 924 crore which leaves a gap of Rs 440 crore.
The RBI had first imposed restrictions on the bank from February 22, 2013, to August 21, 2013, and extended it on eight occasions six months each, and on four occasions three months each.
Proposal to merge the bank is gathering dust in the RBI files.