'FM is personally monitoring the issue': Tejasvi Surya urges customers to not panic after RBI imposes curbs on Bengaluru Co-op Bank

On Monday, BJP MP Tejasvi Surya has sought to calm down panicked depositors and said that Finance Minister Nirmala Sitharaman was personally monitoring the issue of a co-operative bank in Bengaluru after the Reserve Bank of India (RBI) restricted the bank from doing business with immediate effect and capped withdrawal limit at Rs 35,000.

Taking to Twitter, Tejasvi Surya said, "I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic. Hon'ble Finance Minister Nirmala Sitharaman is appraised of matter and is personally monitoring the issue. She has assured the government will protect interests of depositors. Grateful for her concern."

The Bengaluru South MP also attached a letter in his tweet where he had appraised Sitharaman of the situation. "Finance Minister, after speaking with the RBI governor and other authorities concerned, assured Surya that the government will do everything in its capacity to protect the interests of the depositors and the long term interests of the bank," the letter read. It said that Surya also reached out to Sitharaman "three times on January 13" after which she reassured him that the "depositors need not panic".

RBI had, on January 10, imposed certain restrictions on Sri Gururaghavendra Sahakara Bank Niyamitha. "In particular, a sum not exceeding Rs 35,000 of the total balance in every savings bank or current account or any other deposit account may be allowed to be withdrawn subject to conditions stated in the above RBI directions," the notification said.

(Inputs from Agencies)

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