The Odisha government has taken a major step toward addressing the grievances of depositors affected by the closure of the Bhubaneswar Urban Cooperative Bank.
Chief Minister Mohan Charan Majhi officially launched the refund process at Lok Seva Bhawan, where cheques were distributed to depositors.
On the first day, 117 depositors received refunds totalling Rs 2.8 crore. During the ceremonial launch, the Chief Minister handed over cheques to nine beneficiaries personally.
Addressing the larger issue of cooperative bank failures, the government announced its plan to refund depositors of other banks in Dhenkanal, Chhatrapur, Aska, and Bhanjanagar. An amount exceeding Rs 6 crore has been earmarked for over 17,800 depositors across these banks.
This initiative marks a significant move in providing financial relief to depositors impacted by the mismanagement that led to the 2015 shutdown of the Bhubaneswar Urban Cooperative Bank.
