- Advertisement - Panaji : The Reserve Bank of India cancelled the Banking License of the Madgaum Urban Co-operative Bank ltd on 29th July 2021 and directed the office of the Registrar of Co-operative Societies to appoint a liquidator to carry out the due process of law for winding up the bank and settle the claims of the stakeholders. “10 days have lapsed with no sign of appointment of the liquidator for m the concerned authorities of the Government of Goa. It has caused a lot of resentment among the Depositors shareholders and the staff” said the pressnote. The President of M.U.C.B.O.A and M.U.C.B.E.U Prasanna Utagi has written letters to the Registrar of Co-operative societies The CM and the Minister for Co-operation Government ot of Goa requesting them to expedite the appointment of liquidator. The press note informed that the staff members have not been given salary for the month of July 2021. “Depositors are waiting to get back their money. Moreover Govt of India passed a bill in the parliament with guarantee to refund the depositors upto five lakhs deposits within 90 days of liquidation of bank”

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