The C.K.P.Co-operative Bank direction has been extended again for a further period of three months from the close of business on July 31, 2015 vide modified directive subject to review, according to a RBI release.
Those who are on the verge of losing their life-savings in CKP Co-op Bank are demanding strong action from the BJP govt. Besides severe punishments, they want the defaulters and their families to be denied banking facilities anywhere in the Country.
The frustrated depositors have blamed RBI also for sleeping all these days when the money was swindled by these politicians and now it got up and stopped operations. They ask why did RBI not declare monthly financial position of the bank, total amount recovered from the date of taking over the management by the Administrator and the names of the principal defaulters
These defaulters and their relatives should not be given banking facilities in any other banks in India and criminal proceedings should be initiated against all the fraudulent officials and the directors and their all assets should be confiscated and used for paying the dues of the honest depositors.
RBI has clarified that the aforesaid modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.