Page 21 - Banking Finance December 2018

op ffi ia s of oopera RB e ten s restri tions on ashi o operati e an
RB e tended restrictions on ad ashri r ittha rao i he ati o operati e
ti e Ban he for fra
Ban for a period of si onths d e to its ea finan
nforce ent irectorate has ar
cia position. ccordin to the RB s directions deposi
rested t o
tors i e a o ed to ithdra a s not e ceed
top offi
in Rs of the tota a ance he d in e er sa in
cia s of the
an or c rrent acco nt or an other deposit acco nt.
en r an
he RB said ada shree r ittha rao i he ati
oopera
o operati e Ban td ashi itho t its prior appro a i a so not e a e
ti e Ban
to rant or rene an oans. t has een stopped fro a in ad ances or in
in Maharashtra s Rai ad district for
est ent. he an can t inc r an ia i it inc din orro in of f nds and
a e ed ro tin Rs 77 crore of p
acceptance of fresh deposits. t a so can t dis rse or a ree to dis rse an
ic f nds for persona ains.
pa ent hether in dischar e of its ia i ities and o i ations or other ise.
hishir har ar a for er chair an
Besides it i not e a e to enter into an co pro ise or arran e ent and
of the an and e pert director
se transfer or other ise dispose an of its properties or assets e cept as no
re ar har a ere arrested
tified in the RB directions dated Ma 2 said a notification fro the
for e e e ent of f nds nder
centra an .
the pro isions of the re ention of
Mone a nderin ct M . he centra an a so said that the iss e of directions sho d not e constr ed
as the cance ation of its an in icense. he an i contin e to nderta e
he d o is the ain conspirators as
an in siness ith restrictions ti its financia position i pro es. he tenor
e as eneficiaries of the one
of directi e period e ins fro o e er 2 to Ma 2 .
a nderin sca that as carried
o t at the an et een 2 and
era a Ban i stren then ooperati e se tor
2 the a enc has said in a state
ent. he cooperati e sector in the state o d e stren thened once the era a Ban
co es into operation said era a chief inister.
he opened fa e oan ac
he proposed era a Ban is for ed er in
co nts in ario s ranches of the
tate ooperati e Ban district cooperati e
an anip atin an records
an s and their ranches. nce this an is
and p ed o t the f nds for persona
a nched a cooperati e an s o d co e n
ains it said addin that at the ti e
der one roof and this o d he p in the de e op
of the c os re of the an the tota
ent of the state inarar i said hi e ina ratin the state e e f nctions as
o tstandin in these oan acco nts
part of the ooperati e ee ce e ration in asara od.
as Rs 77 crore.
he M said the o ern ent o d app for specia per ission fro the Re
he siphoned off f nds ere sed ei
ser e Ban of ndia to accept deposits fro the R s non resident ndians . f
ther to i o a e properties or
the era a Ban ets the per ission it i essen the diffic ties faced the
pa ear ier non perfor in assets
e patriates fro the state in sendin one to their fa i ies ac ho e he
s or ta en o t as cash thro h
said. o there are an diffic ties for the R s in re ittin the one and
che es or de and drafts disco nt
once this is a e iated the re ittance o d o p inara i added. era a Ban
in for persona enefits the state
i e a e to or accordin to the re ire ent of the state and there is no
ent said.
need for an an iet ass red the chief inister ho added that an other
er acres of anded properties states are p annin to fo o the sa e pattern and set p their o n an s.
orth o er Rs 22 crore ha e een
n i e the corporate an s the era a Ban i e a e to nderstand the p se
p rchased in the na e of third par
of state s needs the chief inister said. here ere so e itter e periences a
ties sin the f nds it said addin
fe i an s t rned their ac to the state and the did not ta e the needs of
that the and is a read attached
the peop e serio s he added. so there ere so e efforts to sa ota e the
the .
cooperati e an s.
B CE | DECEMBER | 201 | 21