Odisha CM Naveen Patnaik’s bank revival promise unfulfilled

As many as 74,000 depositors, thus, are unable to withdraw their money and are undergoing severe agony. The BUCB has over `71.62 crore in deposits. 

Published: 27th February 2020 11:02 AM  |   Last Updated: 27th February 2020 11:02 AM   |  A+A-

Odisha CM Naveen Patnaik

Odisha CM Naveen Patnaik (File Photo | EPS)

By Express News Service

BARIPADA: Despite Chief Minister Naveen Patnaik’s assurances to the people on revival of Baripada Urban Cooperative Bank (BUCB), the State Government has failed to take any step for restoration of the bank’s licence. The bank’s licence was cancelled by RBI for a finacial crisis in 2014, which has posed serious problems for depositors.The Chief Minister, during a Mission Shakti Conclave here last year, had assured to provide funds and hold discussions with the Centre to restore the licence of the bank. But even as more than a year has passed since, nothing has been done.

As many as 74,000 depositors, thus, are unable to withdraw their money and are undergoing severe agony. The BUCB has over Rs71.62 crore in deposits.  Anibesh Kumar Patra of Purnachandrapur said he could not withdraw Rs25,000 from the bank for his marriage. He said depositors like him have been meeting the branch manager and other officials of the bank but in vain.    

Apart from revival of BUCB, the Chief Minister had announced three other projects - establishment of a research centre for Chhau dance, construction of ring road in Baripada town and developing the Mayurbhanj Ayurveda Mahavidyalaya into a Government college during the conclave, held at Chhau Ground on January 30 last year.  Everything lies in paper. District president of BJP Kandra Soren slammed the State Government for its inability to execute development projects. “When the State Government is not able to provide water to people of 28 wards from Jambhira water project, the four major announcements by the Chief Minister hold no value,” he said.   

Soren alleged a majority of people who took loans from BUCB are from the ruling BJD and they intentionally defaulted on their debts. “Such defaulters have created problems for the depositors who are unable to get their principal money or interest from the bank,” he said. Collector Vineet Bhardwaj denied laxity by the district administration and said point-wise reports on progress of projects, announced by the Chief Minister have been sent to the Government. 

Stay up to date on all the latest Odisha news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp