• search

Krishi Bank: YSR asks officials to ensure depositors got back money

Written by: Staff

Hyderabad, Jun 29 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today directed officials to ensure Krishi Bank depositors get their money back.

Dr Reddy today called a meeting of top officials, including Director General of Police Swaranjeet Sen to discuss the issue following the extradition of Bank Chairman Kosaraju Venkateswara Rao from Thailand.

While congratulating the police for securing his deportation, the Chief Minister said effort must be taken to ensure the depositors got back the money.

Speaking to newsmen later, Mr Sen said the Chief Minister had called for the meeting to discuss further action on the case and refund of money to the depositors.

Replying to questions, the DGP said that according to preliminary estimates, the bank still owed Rs nine crore to the depositors.

He said Venkateswara Rao was still in judicial custody and the department would seek police custody.

Venkateswara Rao, the prime accused in the Rs 32 crore Krushi Bank collapse, was brought back from Thailand on Tuesday and remanded to judicial custody till July 11.

Twenty four others had already been arrested in the case. The charges against Rao and others were they obtained loans from the bank in the name of fictitious firms and cheated the depositors.

Police had already attached Rao's property worth over Rs 19 crore, so far.

Though India and Thailand had no extradition treaty, Rao was allowed to be deported by the authorities in view of the friendly relations between the two countries.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more