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Title: Reported cancellation of the license of Prudential Co-operative Bank Limited, Hyderabad by RBI and its adversally affecting the interests of thousands of depositors and account holders.
MR. SPEAKER: We now take up the business after the Question Hour.
Now, Suravaram Sudhakar Reddy.
(NALGONDA): Sir, the Reserve Bank of India has withdrawn its licence to the Prudential Cooperative Urban Bank, Secunderabad in Andhra Pradesh and made an announcement on 7th November, 2004. This is announcing the liquidation of the Prudential Cooperative Urban Bank. This is the oldest Cooperative Urban Bank in Andhra Pradesh with 1,86,765 depositors. Rs. 451 crore is deposited by them. … (Interruptions)
MR. SPEAKER: No cross-talks please.
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MR. SPEAKER: I want to be liberal and give opportunity to all of you.
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MR. SPEAKER: I am thankful to my friends for their co-operation. Please come in quietly. You are all welcome.
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SHRI SURAVARAM SUDHAKAR REDDY : The bank has to get Rs. 300 crore dues from the big borrowers. The liquidation will help only the borrowers who need not pay the money to the bank, and the depositors will be in big loss. Most of the depositors are middle-class and lower middle-class people. The Deposit Insurance Scheme will help them only partially. I request the Union Government to re-think about the liquidation of the Prudential Co-operative Urban Bank, Secunderabad and help the depositors.