Financial Daily from THE HINDU group of publications
Monday, Nov 24, 2003
Financial Daily from THE HINDU group of publications Monday, Nov 24, 2003 |
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Money & Banking
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Co-operatives Prudential depositors' meet Our Bureau
HYDERABAD: The general body meeting of the Depositors Association of Prudential Cooperative Bank, which was held here on Sunday, had decided not to take up any agitational programmes at present as the bank Chairman, Mr B. Ramachandra Rao, had informed them that the revival package plan for the bank, submitted to the Reserve Bank of India, was likely to be approved by December 31. The meeting, however, decided to organise dharnas, processions and hunger strikes from January 1, if their deposits were not repaid by the end of this year. Meanwhile, the association, as per the resolution of the general body, would make an appeal to the Chief Minister, Mr N. Chandrababu Naidu, to use his good offices to ensure the revival of the 83-year old bank so that the depositors would get back their money. The association condemned the attitude of the borrowers who had deliberately defaulted in repayment of huge loans taken from the bank.
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