Mapusa urban bank 'grateful for intervention'

Saligao: Stakeholders of Mapusa Urban Co-operative Bank ( MUCB ) expressed their gratitude to chief minister Pramod Sawant , and the state government for timely intervention in the ongoing affairs of the bank’s caretaker board on issues of merging the bank with the other banks, which they said would help depositors, employees and the shareholders.

“We are thankful to the chief minister for honouring our demand. Now we are assured that the CM and the government will take appropriate steps to carry out the process smoothly as well as in transparent way, taking care of the interests of depositors as well as nearly 200 odd staff,” Mapusa municipal coucillor and stakeholder Rajsingh Rane said.

On Tuesday, the board of directors of MUCB gave its in-principle nod to a merger with Punjab and Maharashtra Cooperative Bank Ltd (PMC). Director of MUCB, Ramakant Khalap, said, “They are hopeful of finding a workable solution to save the bank. Talks are at an advanced stage with PMC. However, if it doesn’t work out with PMC, the merger may happen with some other co-operative bank,” Khalap said.