MUCB shareholders hail CM for his timely intervention
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- The shareholders of Mapusa Urban Co-operative Bank of Goa Ltd (MUCB) hailed Chief Minister, Pramod Sawant for his timely intervention by “thwarting” the attempt of the “acting Board of Directors” to gain a back door entry into the bank and thanked him for looking into the several issues including the caretaker board and the bank’s merger.
- They said this will benefit the depositors, bank employees and its shareholders. Rajsingh Rane, a shareholder informed Herald on Wednesday that the shareholders are grateful to Sawant for fulfilling their demand.
- “Now, we are assured that the Chief Minister and the government will take steps to conduct the ongoing election of the bank’s BoD in a smooth and transparent manner.
- This is a way of taking care of the interests of the 1,25,000 shareholders, depositors and the 200-odd staff since the merger was the last option before the MUCB,” he said.
- Rane said the timely intervention of the government thwarted the attempt of the “acting Board of Directors to get a back door entry into the bank the way they did in 2010 and 2015, all though they had resigned.”