Pune: Depositors from various branches of Shivajirao Bhosale Sahakari Bank (SBSB) in Pune held a protest march on Monday demanding their money, which has been sealed from last three months due to the financial restrictions imposed on the bank.
Nearly 250 account holders participated in the protest march, which took place at the main branch of SBSB, Shivajinagar.
After the Reserve Bank of India (RBI) direction on May 3, 2019, Shivajirao Bhosale Sahakari Bank has been placed under restrictions from May 4, 2019. According to the directions, restriction was put on depositors from withdrawing a sum exceeding Rs 1,000.
Ravindra Thorat, 63, who retired as a clerk from Pune Municipal Corporation (PMC) and has an account at Yerawada branch of SBSB Bank from the last four years, said, “I was not able to withdraw my hardearned money from last three months. I have planned surgery for my stomach that is scheduled for next month. Now, where will I get the money,” he asked.
The bank was not able to disburse any kind of payment, whether in the discharge of its liabilities, obligations or otherwise.
Shravan Shelar, 66, who retired from TELCO, a telecommunication service provider, said, “I have Rs 10 lakh in Shivajinagar branch of SBSB, but I was not allowed withdrawal of any sum, because of the financial difficulties. I am working as a night watchman in a housing society. With the festive season, it has become difficult for us to celebrate it.”
Director of the bank Anil Bhosale while addressing the protesters said, “I understand the value of money and am committed to returning your money as soon as possible. If the Bank reduces its NPAs, then RBI may allow us to function, for that I need to pay Rs 600 crore. There are several business deals I have put on hold just to resolve this problem. Till October 25, we will try to return your money.”
An account holder, who did not want to be named, said, “This was the fourth time we are meeting. Till now, no one had paid attention to our cause. Personally, I do not trust the bank and its directors.”