Withdrawal cap: Bengaluru co-op bank tries to placate customers

BENGALURU: Anxious customers lined up before Sri Gururaghavendra Sahakara Bank Niyamitha in Basavanagudi on Tuesday as officials remained tightlipped about the future course of action following the Reserve Bank India cap on withdrawals at Rs 35,000.
Many senior citizens demanded that the management explain why things had come to such a pass. A meeting called by the bank on Monday was postponed to January 19 abruptly.The bank chief adviser did not respond to calls and messages from TOI. Bank president K Ramakrishna told media they have spoken to RBI officials and will sort out the problem soon. Every customer will get his/her money back and the cap will be removed, he added.
Usha Devi NV, 62, said she desperately needs a job as her savings were locked in the bank. “I worked as a private firm secretary. Four years ago, I deposited Rs 8 lakh in the bank and depended on the interest of around Rs 8,000. My husband has a back injury and been advised not to ride. We don’t have children or anyone to help us,” she said.