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The depositors of the CKP Bank have formed CKP Bank Depositors Forum to bail out the bank from being going into liquidation.
The forum is formed by the depositors of the ailing 100-year-old coop bank.
The present precarious financial position of the bank is the end result of the bad loans outstanding as unrecovered about Rs 220 crore for long time and as the bank has failed to act toughly against the Willful defaulters, the bank has even failed to file criminal complaints against the various frauds detected by the auditors.
About 1,40,000 depositors are suffering due to restrictions under section 35 (A) by RBI since May 2014. The deposits of about Rs 533 crore are held up and majority of senior citizens are very badly affected as no withdrawal is allowed.
We request the Prime Minister Mr. Narendra Modified and Chief Minister of Maharashtra Shri Devendra Fadnavis for their kind intervention and co-operation towards eradicating corruption.
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