Rs 1,400-cr Guru Raghavendra Bank fraud: 43 depositors die amid covid without getting money

News Network
June 5, 2021

Bengaluru, June 5: At least 43 of around 35,000 depositors that are struggling to get their hard-earned money back from the Sri Guru Raghavendra Sahakara Bank Niyamitha (SGRSBN) have passed away in last one and half years. 

In January 2020, the Reserve Bank of India, had invoked Section 35 A of the Banking Regulation Act, 1949 along with Section 56 of the Banking Regulation Act, after a scam worth Rs 1,400 crore had come to light. 

According to official sources, at least 43 depositors died since then without getting their money back. While some of them died due to covid-19, some others due to other reasons. 

The RBI had also imposed a withdrawal limit of Rs 35,000 citing the bank’s bad loans. The ceiling was raised to Rs 1 lakh later.

Satish Karanth, a mechanical engineer and resident of Kathriguppe, lost his 56-yearold wife Savithri Karanth in March due to breathing issues. “The bank assured good interest rates. We trusted the bank as it was run by our community people. We invested Rs 1 crore, including my mother’s Rs 20 lakh. Now, she despairs every day over the lost money and I don’t know how to console her,” he said.

Vijay Gururaj, a Nagarbhavi resident, said his mother Gayathri Gururaja had deposited Rs 6 lakh. “She was dependent on the interest money for her medical expenses. She was not happy to take money from us. After her deposit was stuck, she became depressed. On March 18, while heading to a hospital, she met with a road accident and died. She did not find peace in her death but was worried about losing money,” said Vijay, an accountant.

Online protest

Hit by Covid-19, the depositors have called for an online protest. It will be organised on Facebook Live — https:// www.facebook.com/SGRSBNDepositors/ — at 8pm on June 6.

Harish Venkataramaiah, a depositor leading the protest, said there has been no development in the last one-andhalf-year with regard to the money. 

“Initially, the heads promised to revive the bank but later an administrator was appointed by the Registrar of Cooperative Societies in Karnataka but that was also of no use. People who defaulted on their loans have been roaming free and the poor depositors are paying a heavy price for it,” he rued.

The bank’s case of irregularities was handed over to the Criminal Investigation Department (CID), which is yet to file a chargesheet. A police official said the CID had collected data of the victims but later Covid-19 situation slowed down the probe.

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News Network
January 6,2025

Bengaluru, Jan 6: Most wanted Maoists operating in deep jungles of Western Ghats, hilly and coastal region of Karnataka have decided to lay down their arms and join the mainstream following the appeal by Chief Minister Siddaramaiah-led Karnataka Congress government.

According to sources, the Maoists have taken the decision following the encounter of Vikram Gowda and the continuous combing operations in the Western Ghat region by the Anti-Naxal Force (ANF) and the Karnataka Police.

Sources said that top leaders Mundagaru Latha who leads the Tunga Naxal Wing in the state; Sundari, Vanajakshi, Jeesha, the most wanted Maoists of south India; K. Vasantha from Andhra Pradesh and Mareppa Aroli have decided to surrender and lay down their arms.

Maoist leader Sundari’s brother Anand, who was also a Naxal and returned to the mainstream, stated, “They will welcome her home if she decides to lay down arms. Let her and associates stop the struggle and live like common people. It’s 17 years since she had gone away from home. We will be happy if she comes back to us.”

“Sundari, surrender before the government and come back home,” he appealed in Kutlur of Mangaluru district.

The surrender procedure will happen in two to three days, sources confirmed.

The sources also revealed that the Maoists had written a letter in this regard to the Citizen’s Forum, a progressive organisation and the members of the forum have discussed the matter already with Chief Minister Siddaramaiah.

CM Siddaramaiah welcomed the proposal and gave the green signal for authorities to start the surrender procedures.

The Maoists have demanded that the surrender process should take place in a dignified manner and that their self-respect should not be harmed. They have also demanded that they should not be prevented from exercising their rights under a democratic system.

The Maoists have also demanded that they should not be made to languish in prisons. The 'false' cases against them should be closed and cooperation has to be extended for them after surrender to obtain bail. It has also been demanded that all cases must be brought under one court and trial has to be expedited.

They have also demanded financial support from the government to shape their lives. The package has to be applied to other surrendered Maoists who are presently in prison. They have also sought clarification on whether Karnataka, Tamil Nadu and Kerala states will take one stand on the matter.

The Maoists have also demanded a judicial investigation of the Vikram Gowda encounter.

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News Network
January 3,2025

protestarrest.jpg

BJP MLA Vedavyas Kamath and several BJP leaders were arrested in Mangaluru during a protest organized by the Dakshina Kannada BJP Yuva Morcha near Mini Vidhana Soudha. 

The protest targeted the Congress-led Siddaramaiah government, accusing it of fostering an environment of harassment and distress, which the BJP claims has led to multiple suicides among contractors and government officials.

Key Points:

Addressing the gathering before his arrest, Kamath criticized the Congress government, alleging that neither contractors nor honest officials have found peace since it assumed power. He remarked, "Suicide seems to be the only 'guarantee' under this administration."

Kamath cited the suicide of contractor Sachin, allegedly driven to death by harassment from individuals linked to Minister Priyank Kharge.

Other cases highlighted included the suicides of Chandrashekar, superintendent of the Maharshi Valmiki Development Corporation, and Rudresh, who was allegedly harassed by an aide of Minister Lakshmi Hebbalkar.

Kamath also referred to a Dalit inspector, Parashuram, who reportedly succumbed to alleged torture connected to Congress MLA Channareddy Patil’s son.

He accused Chief Minister Siddaramaiah and Deputy Chief Minister D K Shivakumar of remaining silent due to political fears over their positions.

Prominent BJP leaders such as Ramesh Kandetthu, Premananda Shetty, Vikas Puttur, Nandan Mallya, Monappa Bhandary, Pooja Pai, Deputy Mayor Bhanumathi, and Sanjay Prabhu participated in the protest alongside party workers and municipal council members.

The protest escalated, resulting in the arrest of Kamath and other BJP leaders by the police, marking a dramatic standoff between BJP and Congress.

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News Network
January 4,2025

Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta met Union Home Minister Amit Shah in New Delhi on Friday to discuss key issues affecting the security and development of the region. The meeting highlighted several urgent concerns, ranging from counter-terrorism measures to infrastructure upgrades.

During the meeting, Chowta strongly advocated for establishing a National Investigation Agency (NIA) Centre in Mangaluru. He pointed out the city’s vulnerability to threats such as Islamic radicalisation, sleeper cells, and the activities of groups like SDPI and PFI. Citing the unrest during the Citizenship Amendment Act (CAA) protests, Chowta emphasized the ability of radical groups to incite large-scale disruptions. He argued that Mangaluru’s strategic coastal location necessitates an NIA Centre to bolster counter-terrorism operations and ensure regional security.

Chowta also discussed the Indian Coast Guard Academy, sanctioned for Mangaluru in 2020. He highlighted its potential to enhance India’s maritime security through advanced training in coastal defence, disaster response, and surveillance. Situated near the Arabian Sea and Mangalore Port, the academy is strategically positioned to address challenges in regions like Lakshadweep and the Maldives, aligning with India’s geostrategic interests.

The MP proposed the establishment of a Sainik School in Mangaluru to nurture leadership, discipline, and patriotism among local youth. He emphasized that such an institution would not only provide quality education but also act as a feeder for the armed forces, enhancing the region’s defence readiness. Chowta suggested pairing the school with a military installation, further strengthening coastal defence capabilities and supporting national security goals.

Addressing infrastructure, Chowta underscored the need to improve the Mangaluru-Bengaluru railway and road networks. He argued that enhanced connectivity would unlock the region’s economic potential, streamline logistics for New Mangalore Port, and support key industries such as fisheries, agriculture, and manufacturing. Additionally, upgraded infrastructure would boost trade, tourism, and employment opportunities.

On economic development, Chowta urged the revival of cooperative banks under the Ministry of Cooperatives. He proposed increased funding and loan facilities for businesses and farmers to enhance financial inclusion and regional economic stability. Strengthening fisheries cooperatives, he noted, would provide local fishermen with better access to financial services, loans, and insurance, improving productivity and security.

The MP’s discussions reflected a comprehensive vision for balancing security, infrastructure, and economic growth in Dakshina Kannada, aligning with both regional and national priorities.

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