‘I have taken up the issue of restrictions imposed by RBI with Finance Minister’
Union Minister for Minority Affairs K. Rahman Khan on Saturday said that “as per the latest financial statements of Amanath Cooperative Bank, the depositors’ money is safe.”
In a statement issued from New Delhi, Mr. Khan said “he would do everything possible to safeguard the interests of the bank, its shareholders and depositors.”
Stating that he had taken up the issue of the Rs. 1,000-cap on monthly withdrawals and ban on fresh deposits — imposed by the Reserve Bank of India — with the Finance Minister, he requested the shareholders and depositors to cooperate with bank officials and its management at this time of crisis and “not to be misled by vested interests”.
Mr. Khan said he had also asked the bank to request the RBI to reconsider action initiated under the Banking Regulation Act by submitting its latest financial position as on March 31, 2013, which he termed “very positive”.