Withdrawal Pressure Eases For Visakha

The rush by depositors to withdraw their money from Visakhapatnam Co-operative Bank considerably eased today.

There was mad rush yesterday upto 7 pm at some branches in the city. Most of the deposits were pre-matured, the bank management said.

Interestingly, some old outstanding dues, relating to gold mortgage, were paid back in a hurry, due to the widespread rumours about the bank.

This helped the bank in someway as several high cost deposits were withdrawn.