BENGALURU: Minister for Cooperation ST Somashekhar said three institutions have come forward to take over the Sri Guru Raghavendra Sahakara Bank Niyamita (SGRSBN) and the Expression of Interest (EOI) has been submitted to the Reserve Bank of India (RBI). Congress MLC UB Venkatesh raised the issue during the calling attention motion and said thousands of depositors of SGRSBN and Sri Vasishta Souharda Bank were left in the lurch as there was no progress in the investigation.
He said that the auditing process was taking a lot of time and it had come in the way of reconstructing the bank. “The government should take the issue seriously. Around 90 depositors have already passed away and many are finding it difficult to even buy medicines.
They are waiting for some relief and the government must return their money by auctioning seized properties,” he said. In his reply, the minister said the matter was being probed by the CID and necessary information is also being passed on to the CBI and ED. “Jaswant Reddy and Ranjit Reddy, who are the highest borrowers, have fled the country and we have approached the CBI to issue a red corner notice against them. Besides, 24 other highest borrowers to whom Rs. 892.85 crores have been given have been issued a notice”.