Professional Documents
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However, truth started emerging in layers, first it was told by the Bank
management that there are some compliance issues where RBI has asked for some
Documents pending submission, once submitted restriction will go however when it
took long and no communication was forthcoming from the Bank, Management
slowly started by telling us that there is some issue of NPA which needs attention.
Some pending loan recovery needs to be done which would automatically remove
this restriction. On this it was told that Loan recovery from the defaulters is on full
swing and Bank CEO Mr. Santhosh used to give daily account of loan recovery being
made on daily basis. This went on for a few months and as per Santhosh score board
keep ticking but no tangible changes seen in terms of safety of our money with RBI
giving no access to the genuine information no clarity on impending situation on
ground.
It was told that RBI has asked to make a loan recovery of Rs.375 crores, and
capitalization of about 200 crores and all NPA loans be dealt with utmost priority
but nothing moved. Bank Management would give depositors some data and give us
false assurance but nothing happened on ground be it recovery or capitalization is
concerned. Then resentment of Depositors started which resulted in Board of
Director and Bank Management being superseded by Registrar of Cooperative
Societies on recommendation of RBI. Mr. Diwakar KCS was appointed Administrator
of Sri Guru Raghavendra Bank on May 18 2020.
However before this happened towards the end of March 2020 just before
Covid Restrictions were imposed nationwide there was an entry of 3 important
Politicians happened Mr. Tejaswi Surya MP Bangalore, Mr. Ravi Subramanya MLA
Basavanagudi Constituency and Mr. Uday Garuduachar MLA Chickpet
Constituency. There entry was assumed by many a depositors as a great boon and
that these Politicians would contribute towards recovery of this Bank but Covid
Restriction and Pandemic helped Bank Management and these Politicians to do
capricious misdemeanors. However after Bank Management was superseded
Directors including Mr. Ramakrishna President and other Directors went into
hiding. Meantime a Public Interest Litigation was filed for reconstruction of the Bank
and seeking direction to punish those who inflicted this Scam on Depositors.
Staff in the Bank were part of this sinister plot to defraud depositors money
by cooperating with Bank Management who have continuously plundering the bank.
A few staff members like Mr. Vasudev Maiyya who committed suicide was
fountainhead of skulduggery followed by Murulidhar Erkady both of whom were
colleagues in Karnataka Bank with dubious background. Murulidhar Erkady joined
the Bank giving forged documents of their employment records which were
discovered by current Administrator and a criminal case was filed against him, in
addition there are other Staff members like Santhosh, Prashanth, Sripad Hegde
were arrested on charges of siphoning money of the Bank for personal gain and a
case is pending against them and they are out on bail like their mentors in Board
Directors.
This entire scam which has been continuously perpetrated on the Depositors
for nearly 20 years has worked like a parallel system like an underworld where all
gangster gang up together form their own rules, play by their own law and cheat the
people at their own will as wantonly and audaciously as they can with a feeling of
indomitable spirit. RBI & RCS which was governing body came into to the PICTURE
just like in old hindi movie when they came as said nobody moves to the depositors
and let all perpetrators escape. Police as usual are sitting ducks buckling under
Political pressure. Only ray of hope that seems to be dawning is from the Court
however how long will it take is a question of reality. In the midst of all darkness
lurking around Depositors are running from post to pillar in order to find out their
fate and fate of their hard earned money, trying to find hope from hopeless situation,
trying to pray all god who have not responded yet.
Author :-
HARISH V.
A Freelance Journalist & a depositor in Sri Guru Raghavendra Sahakara Bank
Limited Residing in Bangalore