The Hindu Business Line : Prudential liquidator assures early settlement

THE official liquidator appointed by the Reserve Bank of India for the Prudential Cooperative Urban Bank has said that the latter's branches would be open from Monday to facilitate access to lockers and assured that apex bank has promised to settle claims at the earliest.

Mr V. Amarender Rao, Joint Registrar, who has been appointed as the liquidator, in a statement said that within three months all bank accounts will be audited and early settlement of claims made, the RBI has assured.

Mr Rao said "as a liquidator I have contacted the Andhra Pradesh Sahakara Vignana Samithi to prepare the deposit claim for Prudential Bank and requested the RBI, Hyderabad, to depute officers from Mumbai to guide officials to provide inputs to make the necessary insurance claim of depositors."

Mr Rao also appealed to the cooperative bank depositors not to panic and cooperate with the liquidator and staff to ensure an early claim while also facilitating recovery of the amounts from borrowers. He also urged the bank staff to ensure quick settlement of claims to depositors having more than Rs 1 lakh.

More Stories on : Co-operatives | Investor Protection | Andhra Pradesh

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