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Mapusa urban bank decides to delay polls

Saligao: The board of directors of the Mapusa Urban Cooperative Bank has decided to postpone elections for a new body and call a general body meeting to take all the stakeholders into confidence regarding the bank’s merger with PMC Bank.

“We had a meeting with chief minister and cooperative minister Govind Gaude to work out a solution to bring the bank out of the crisis,” bank chairman Gurudas Natekar said after the board’s emergency meeting on Tuesday.



He said that the board had decided to postpone the election scheduled for September 14. “We have taken a decision to convene a special general body meeting soon to take approval of the shareholders,” Natekar said.

The board members held a high-level meeting with chief minister Pramod Sawant, cooperative minister Govind Gaude, chief secretary, state registrar, finance secretary and RBI officials, on Monday. Officials from PMC Bank, which is in merger talks with Mapusa Urban Cooperative Bank, also attended the meeting.

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