Following rumours as well as adverse news reports appearing in a section of the vernacular press for the last few days, the Ahmedabad-based General Cooperative Bank (GCB) has been witnessing long queues of customers at its 12 branches in the city since last Thursday.
However, the bank has been somehow managing to arrange for the requisite liquidity and has till today ensured that none of its customers have had to go back without being able to effect the desired withdrawals. To tide over the acute liquidity crunch arising out of the large withdrawals witnessed during the last few days, General Cooperative Bank today borrowed Rs 5 crore from the apex Ahmedabad District Cooperative Bank.
Speaking on condition of anonymity, GCB sources said the allegations, appearing in the media,
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