Money & Banking

Ex-CEO of a Karnataka-based co-op bank booked

PTI Bengaluru | Updated on February 14, 2020

A case of cheating and forgery has been registered against the former CEO of crisis-hit Guru Raghavendra Sahakara Bank, weeks after the RBI cap on withdrawal limit triggered panic among depositors.

According to the police, the case has been registered based on a complaint by the present CEO, A Santhosh Kumar, against his predecessor, Manur Vasudava Maiya.

The bank is in the midst of a crisis following huge non-performing assets and the RBI had capped the withdrawal limit to ₹35,000 last month. Kumar stated in his complaint that between 2012 and 2018 Maiya had allegedly lent money beyond his jurisdiction to various customers. PTI

Published on February 10, 2020

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