Tuesday , November 6 2018
Home / Goa News Highlights / Mapusa Urban Co-op Bank Board of Directors resigns

Mapusa Urban Co-op Bank Board of Directors resigns

Mapusa: The Board of Directors of Mapusa Urban Co-operative Bank of Goa Ltd (MUCB) unanimously tendered their resignation at a meeting held at the main branch on Tuesday.
The resignation copies will be sent to the Central Registrar, Goa Registrar, Government and Reserve Bank of India (RBI) on Wednesday.

It is pertinent to note that in July 2015, the Reserve Bank of India (RBI) had imposed an embargo on them.
Now in a fresh embargo, RBI has restricted withdrawals to customers to a limit of up to Rs 1,000. If the depositors have liabilities towards the bank as a borrower or surety then this will first have to be cleared before the withdrawal of Rs 1,000 is allowed.
According to the RBI directions, they are allowed to renew fixed deposits and accept loan recovery payments.

It is alleged that the board of directors tendered their resignation due to the recent the MUCB fiasco.
After the meeting, bank chairman Gurudas Natekar informed that the Board of Directors had unanimously tendered their resignation on Tuesday.
“I have resigned and do not have any right henceforth. Let the government or RBI decide the next course of action. The resignation copies will be in warded in the respective offices on Wednesday,” Natekar added.
There was chaos as those present were very angry after hearing the news of the BoD resigning as they were in a fix as to whom to approach. [H]

About admin

Check Also

Let Nadkarni continue to represent State: Goa

Panjim: Goa Government has written to Prime Minister Narendra Modi and Union Minister for Water …