Financial Daily from THE HINDU group of publications
Tuesday, Dec 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 30, 2003 |
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Money & Banking
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Co-operatives Prudential depositors' plea Our Bureau
HYDERABAD: The Depositors Association of Prudential Co-Operative Bank today asked the management of the bank to accelerate all legal procedures against all the defaulted borrowers. "The recoveries will strengthen the financial position of the bank," Mr K. Srinivasulu, President of the association, said in a memorandum to the bank Chairman. "We demanded that the bank should be revived to its normal functions forthwith," he said in a press release. "We will not tolerate any attempt to scuttle the chances of revival of the bank. Also, the bank should follow strict austerity measures to bring down the expenses of the management," the depositors said in the release. Later, they staged a `rasta roko' on Rashtrapathi Road in support of their cause.
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