Depositors panic as RBI caps withdrawal limit of Bengaluru’s Sri Guru Raghavendra Co-operative Bank

Bengaluru: The Reserve Bank of India (RBI) capped to ₹35,000 the withdrawal limit of Sri Guru Raghavendra Co-operative Bank in Bengaluru and panic struck among depositors. BJP MP Tejasvi Surya has sought to calm down panicked depositors of the co-operative bank and said finance minister Nirmala Sitharaman was personally monitoring the issue. 

Taking to Twitter, Bengaluru South MP Tejasvi Surya wrote, “I want to assure all depositors of Sri Guru Raghavendra Co-operative Bank to not panic. Hon'ble Finance Minister Smt. @nsitharaman is appraised of matter & is personally monitoring the issue. She has assured Govt will protect the interests of depositors. Grateful for her concern." 

The Bengaluru South MP also attached a letter in his tweet where he had apprised the finance minister of the situation. Depositors were seen queuing up in front of the bank in Basavanagudi as soon as the news spread.