Social media is flooded with posts of helpless depositors of the beleaguered Adarsh Credit Cooperative, which demand, among other things an immediate relief package. In the name of investigation, it is not appropriate to leave 21 lakh members to die of starvation, the campaign stresses.
“Nearly Rs 17000 crores were deposited by the members of the institution, in lieu of that only a relief package of Rs 5000 crores should be given, remaining amounts could be recovered by selling the properties of the society”, depositors show the way out.
“Nearly 4500 employees are starving due to the non-payment of wages. Nearly 5 lakh agents’ families are starving. Innocent employees and agents are being persecuted’, wails the posts.
”Our Prime Minister has emerged as the world’s number one leader due to Corona. The corona will be over in a few days, but we have been reduced to the status of marona (must die). We see a world leader in Modi and appeal to him to save us”.
Currently under liquidation, Adarsh depositors have preferred the role of Administrator who can get them their deposits sooner than later.
They demand that the Central registrar should order state and district level registrars to appoint administrators wherever Adarsh Credit Co-op Banks have failed. This way, at least the process of recovery would be put in place, they argue.
The tragedy is that even the recovery from those who took loans from the society has stopped. The money belongs to the general public numbering lakhs, who are condemned to penury. “Many people committed suicide, a few have suffered heart attack, someone’s marriage has broken up while someone could not pursue higher education, some even lost life without treatment”, the social media posts read.
In one such post, being tweeted and retweeted, the depositors say that “Since the interest rate of the banks has been reduced, people gravitate towards cooperative societies as they offer them high interest on their deposits.
They also say that even Adarsh Credit Cooperative Society had been giving good interest and employment to people for almost 20 years. Nearly 21 lakh people paid dividends at the rate of 16 percent. In the whole country, above 400 of its branches were working successfully.
“Justice received late is also an injustice. Please share it as much as possible and reach the Central Government”, goes on the campaign. Source: https://www.indiancooperative.com/
Categories: Business,
Crime,
India,
Investigation
