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 9,2025

Mangaluru: Establishing a Beary Development Corporation is a valid demand, but its implications must be carefully studied, remarked Speaker UT Khader. He proposed forming an expert committee to evaluate the corporation’s potential impact on the Beary community during a district-level conference of the Beary-speaking community, organized by the Akhila Bharata Beary Mahasabha at Kudmul Ranga Rao Town Hall on Wednesday.

Khader expressed concerns over inefficiencies in existing government-established corporations, such as unfilled leadership positions, lack of appointed members, and insufficient funding. “The Beary Development Corporation must avoid similar pitfalls,” he emphasized. He noted that the Minorities Development Corporation already provides various schemes for Beary Muslims, urging a detailed assessment to ensure the new corporation’s funding does not fall short of current provisions, which could disadvantage the community.

Praising the industrious and self-respecting nature of the Beary community, Khader highlighted the respect Beary elders once commanded in villages. He encouraged the youth to uphold this legacy and actively contribute to the community’s progress. Additionally, he commended the Beary youth for their swift and dedicated responses during emergencies, which have garnered widespread recognition.

Khader underscored the importance of unity, cautioning against fostering divisions within the community. He also stressed the critical role of education in development, urging the maintenance of detailed records for SSLC and PUC students to track progress.

The event was presided over by Azeez Baikampadi, president of the Akhila Bharata Beary Mahasabha. Among the dignitaries present were former MLA Mohiudeen Bava and retired police officer GA Bawa. Dr. UT Ifikhar Ali Farid, honorary president of the Akhila Bharata Beary Mahasabha and chairman of the Karnataka State Allied and Healthcare Council, was felicitated during the program.

In notable initiatives, Kanachuru Monu, chairman of Kanachuru Medical College, unveiled the Mahasabha’s new website, while Sheikhabba Karnire of Expertise Company, Jubail, launched an IAS-IPS program aimed at empowering the Beary community.

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News Network
January 10,2025

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Barakah International School and College is organizing a unique parenting workshop aimed at equipping parents with essential skills in various aspects of parenting. The event will take place at Barakah Auditorium, Ayar, on Thursday, January 16, 2025, at 6:30 PM.

This session will cover three crucial aspects of parenting:

Motivating Your Child to Excel in Academics: Presented by Sharfuddin B.S., Principal of Barakah International School and College and an internationally acclaimed motivational speaker.

Parenting in the Modern Age: Delivered by Mr. Saif Sultan, a renowned motivational speaker and Chairman of the Hope Foundation.

Parenting Skills to Instill Islamic Values: Led by Mohammad Haneef, Principal of the Islamic Department at Barakah International School and a well-known Khateeb.

The workshop will conclude with a Q&A session, providing participants the opportunity to gain deeper insights from the experts.

The program is free of cost and open to both parents, subject to prior registration. Maghrib and Isha prayer arrangements will be available, and refreshments will be served at the end.

Interested participants are encouraged to register at the earliest to secure their slots via the following Google Form:

https://forms.gle/mKxsr4A1UGrpo7DJ9

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News Network
January 13,2025

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The director general of the Ministry of Health in Gaza has described as “hell” the situation in the north of the strip which has been under an Israeli ground offensive and siege for “100 days”.

“The situation is literally like hell,” Munir al-Barsh said on Sunday, referring to daily Israeli attacks and the regime’s ban on food delivery to medical staff trapped in the north’s hospitals.

He added that “hospitals in northern Gaza have turned into mass graves.”

Al-Barsh noted that the offensive and the destruction of hospitals and infrastructure and any sign of life in the north are aimed to empty the region of its residents.

“The Israeli occupation has been deliberately destroying the health system since the very first moment,” he said, adding that “the destruction of hospitals was the greatest evidence of the [Israeli] genocide.”

According to his statements, 5,000 people have been killed or gone missing, while 9,500 others have been injured since the start of Israel’s offensive on the north of Gaza in early October 2024. The regime’s forces have also abducted about 2,300 people, including 65 medical staff, during the ongoing offensive.

Al-Barsh slammed the “disgraceful” silence of the international community on Israel’s atrocities, which he said, has “deepened the suffering of innocent civilians.”

Israel launched a genocidal war on Gaza on October 7, 2023 after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Flood against the occupying entity in response to the Israeli regime's decades-long campaign of bloodletting and devastation against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 46,565 Palestinians, mostly women and children, and injured more than 109,660 others. Thousands more are also missing and presumed dead under rubble.

However, the UK’s Lancet medical journal estimates the actual number of deaths in the war is much higher than the official toll.

According to the study, figures reported by the Palestinian health ministry likely undercounted the death toll by 41 percent in the first nine months of the war as the Gaza Strip’s healthcare infrastructure unraveled.

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