M'shtra cooperative bank returns depositors' money

After a wait of two and a half years around 500 depositors of Maharashtra Brahmin Cooperative Bank got back their money on Sunday. But more than 25,000 are still waiting to get back their hard earned money.

There was a wave of panic among the depositors when the Reserve Bank of India (RBI) cancelled the bank's licence two years ago. The bank had around Rs 55 crore depositors' money. Some depositors had even threatened of committing suicide if the money was not returned.

The deposits were returened through cheques. None of the amount exceeded Rs 10,000.

"Though we have got our money, other depositors should also get their money back," said Satish Sharma, a depositor in the bank.

Pramod Lingle, another depositor said that in future there should be some arrangement to avoid such situations. He also demanded strict action against those who are resposible for the situation.

Sources said rest of the depositors would also get their money back in due course of time. The depsitors mainly consist of retired people who deposited their gratuity and provident fund.