ANDHRA PRADESH

GTB closure triggers panic

VIJAYAWADA, JULY 24. The sudden closure of the Global Trust Bank, following an order from the Reserve Bank of India, has created panic among the bank's customers in the city on Saturday.

Immediately after the news of the bank's closure spread thick and fast in the afternoon, anxious customers were seen rushing to the nearest branches of the bank to withdraw their amounts deposited in the bank. They were, however, greeted by a notification "Bank is under moratorium as per the Banking Regulations Act issued by the RBI" put up in front of the bank's branches.

With the number of the customers at the bank's branches at Labbipet and Patamata swelling by the evening, police rushed to the spot to control the angry crowd.

As people continued to trickle in till night, security personnel were posted at the bank's branches to avoid any untoward incidents.

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