Shankar Sharma - Latest News Update, Information, Photos & Videos on Shankar Sharma at Lokmat Times

"Your money is 100 per cent safe with Sri Guru Raghavendra Sahakara Bank. It's my responsibility," Ramakrishna said at Sri Guru Narasimha Kalyanamandira auditorium, to assure depositors.Because of these 62 dud loans, the Reserve Bank of India (RBI) had restricted the lender from executing business, he said amid shouting by depositors.To assuage customers, the call to an assistant commissioner of police by Bengaluru South MP Tejaswi Surya not present was relayed on loudspeaker live and the MP claimed that he had spoken to Finance Minister Nirmala Sitharaman to help the customers.Ramakrishna said he would meet customers again on January 19 with all the details and numbers.Dramatic scenes and pandemonium ruled the auditorium before his arrival. Thousands of bank customers threatened to go en masse to the police station and file a case against Ramakrishna.As he addressed the gathering in Kannada, hundreds of depositors shouted back at him seeking clarifications."The bank is saying I can't withdraw more than Rs 35,000. In case of our fixed deposit maturing, we will have to renew it as we can't encash it, " said Nagaraj M, 49, who has been dealing with the bank for the past six years.At the auditorium, thousands of depositors earlier demanded the bank chairman's presence to clarify the matter.The lender had invited depositors to the auditorium at 6 p.m. to update them on the bank's status, following a RBI directive restricting the bank from doing business with immediate effect."We want the bank's directors here," shouted a depositor from the stage. A handful of policemen were trying to control the crowd and bring order to the assembly.Many elderly and retired persons had arrived to know the fate of their savings. Several women were also present at the meeting."It was a good bank with only 0.5 per cent NPAs. Now we can't trust any bank. See what happened with the PMC Bank," said another customer.Shankar Sharma, 38, an employee of a private company, said majority of depositors were senior citizens and retirees. "I don't have an account with the bank, but my mother, uncle, aunt have deposited money in it. I came for them, " said Sharma.He said many of the bank's 35,000 clientele deposited more than Rs 5 lakh, which had total deposits of Rs 1,600 crore. The bank started operations in 1999.Ramakrishna was escorted away to safety by the police after his speech even as the depositors were screaming and agitating for justice.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Shankar SharmaFOLLOW

Shankar sharma, Latest News

International :Zomato was game over on listing itself: Shankar Sharma quotes Amitabh Bachchan from 'Deewar'

New Delhi, July 26 Amid the plunge in Zomato shares, stock market investor Shankar Sharma has said that ... ...

International :Nepal cabinet recommends appointment of ambassadors to India, UK and US

Nepal cabinet on Thursday recommended the appointment of ambassadors of India, the United Kingdom and the United States on Thursday. ...

National :Jog waterfall in Karnataka on verge of drying up due to less rainfall

The mesmerizing Jog waterfall in Shivamogga is now struggling to hold its alluring vista due to the environmental challenge. ...

National :Bengaluru bank blames 62 dud loans for crisis (2nd Lead)

Assuring depositors that their money was "100 per cent safe" with the bank, Sri Guru Raghavendra Sahakara Bank Chairman K. Ramakrishna, here on Monday, said 62 loans had locked up Rs 300 crore of deposit. ...