Fraud at Rs Cooperative Bank Mumbai Malad

Respected All,

This issue has Escalated to each platform of government organization But No responce
I am Writing this letter to you in Good Faith

This is to Bring Your Kind Concern That We are the 14750 (Fourteen thousand Seven Hundred & Fifty) Account Holder of The Rs Coop Bank Ltd, 1st Floor Swapna Siddhi Shopping Center, Akrurli Road Kandivali East Mumbai 400101, Bank Based in Mumbai Maharashtra
We are Facing Financial issue in Our Day to Day Life,

We the undersigned are very unfortunate account holders with the Bank.



As it is now open secret that the Bank is in the hands of very inefficient people who are

not aware of the Banking policies and also don’t know how to do business.





The inefficiency of the Board of Directors of the Bank has led the account holders into a never ending hardship. As the bank is only allowed to remit/give Rs. 1,000/- to the account holders (savings & current) at no fault of the account holder. This is a very sorry state of the account holder, that even though they have very decent credit amount in their bank account, they have to accept this paltry amount. This has happened because of inefficiency of the Board of Directors of the Bank.



Bank has assured us that they will also recall that after the moratorium was levied on the Bank by RBI, the account holders Met the Bank Board Members & promised that Bank will call a meeting of all the account holders. But Bank Fail to Do the Same,



Just to make you aware that what kind hardship/problems are being faced by the account holders, we are quoting here some of the facts for account holders:-



1. One of the account holder is having a credit balance, which he had kept for his marriage purpose. Now he is stuck with his marriage preparations, he is now totally dependent on his relatives, friends for financing his marriage. As might be aware that having a good marriage arrangements is must, otherwise his name and his family name gets spoiled in the caste. This has happened, because of the Bank’s inefficiency

2. One of the account holder is having a credit balance, which he had kept for his son’s further studies. Now he is also stuck just because of the Bank’s inefficiency. His career is at the stake.

3. One of the account holder had kept the money for his father’s by-pass surgery. Now his father’s life is at the stake, just because of the Bank’s inefficiency



Like above there are so many incidents, which can be written here.



Certain account holders also met the officials at RBI office in Worli, and they were told that once the revival letter is submitted by the Bank to RBI, they will reply to that within 4-5 days. The revival letter was submitted to RBI sometime in the first week of July 2015, but till today there is no reply from RBI. We hereby request you to please followup with RBI for the reply.



Also RBI had given instructions to Bank for forming a Hardship Committee, so that the account holders can make an application to the Bank for withdrawal of their money on hardship grounds. We had nominated our representative in the hardship committee. The account holder had made applications in the prescribed format given by RBI to the Bank. Bank has also submitted around 85 applications to RBI, but there is no reply/order from RBI. On inquiring with RBI, they said that they are busy with some other matters and will take our matter in due course. It is also requested to your goodself to actively followup with RBI for release of amounts to the applicants.



We the undersigned account holders would like to have your answers to following questions :-



1. When will the bank start its normal transactions?

2. When do we expect the reply from RBI for the hardship applications ?

3. What is the way forward thought by the Board of Directors ?


All the undersigned account holders, hereby eagerly waiting for your replyAs We Came to Know on 26th of June 2015 that The Respective Reserve Bank of India held the Moratorium Under Section 35A of Banking Regulation Act 1949(As Applicable to Co-operative Societies) on The R S Co-operative Bank Ltd for 6 Months, This was Very Shocking News for All the Account Holders,

There are all types of Account Holder is having there account in This Bank & we all have kept our Money in Good Faith,
We are Not aware about Banking Terms & Banking Policy,
There are Senior Citizen Account Holders Kept there Funds for There Livelihood
There are Widow Who Kept there Funds For the future of her Kids
There are Many Account Holders Belong to Working Class who kept there funds for The Education, Marriage, & Medical Treatment for there family,
There are Many Young Account Holders Who Kept there Funds for Business (Max Account holders has Just Started there business )

Just think once what Crime We had Done, What is our Mistake, That we are facing the issue after have our Own Funds still we are cribbing & Begging for Our Money to The R S Cooperative Bank Ltd & Reserve Bank of India

Now Our Pain is that We are Not aware about Banking Policy & Banking Law,

There Statement of The R S Co-Operative Bank Ltd is Giving that We Are Not Culprit, We are Reopen the Bank, But This Will Take Unknown time,

We are Living Our Life in Fear, In-security & Many More Tension, We Know That Our Country is Not Having In Human Law, & Also Such Bank Cant Cheat The Common Man

Please find the attached Letter signed by Account Holders

Hoping that Our Country Man & Respective Designated Personalities Will help us & Allow us tension free Life

We are Not Asking Any thing Extra We are Just Asking What We kept on Bank


Regards On Behalf Of All Account Holders