Panic among depositors as RBI imposes curbs on Bengaluru co-operative bank

BENGALURU: Fearing the loss of their savings, panic-stricken depositors rushed to Sri Guru Raghavendra Sahakara Bank Niyamita in Basavanagudi on Monday to hold talks with the management.
But with the crowd swelling and resulting in commotion, the cooperative bank decided to postpone the meeting to January 19. The meeting was scheduled to be held in the backdrop of Reserve Bank of India’s notice to the bank, capping withdrawal limit for account holders at Rs 35,000.
The bank was about to start the meeting in the morning but couldn’t control the large number of customers who asked tough questions. Some customers are planning to form a union to fight their case.