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
May 5,2024

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London: London's Labour mayor Sadiq Khan on Saturday secured a record third term, as the party swept a host of mayoral races and local elections to trounce the ruling Conservatives just months before an expected general election.

Khan, 53, beat Tory challenger Susan Hall by 11 points to scupper largely forlorn Tory hopes that they could prise the UK capital away from Labour for the first time since 2016.

The first Muslim mayor of a Western capital when initially elected then, he had been widely expected to win as the opposition party surges nationally and the Tories struggle to revive their fortunes.

Hours later in the West Midlands, Conservative mayor Andy Street -- bidding for his own third term -- unexpectedly lost to Labour's Richard Parker, dealing a hammer blow to Prime Minister Rishi Sunak.

That narrow loss left the beleaguered leader with only one notable success in Thursday's votes across England, after Tory mayor Ben Houchen won in Tees Valley, northeast England -- albeit with a vastly reduced majority.

In a dismal set of results, Sunak's party finished a humiliating third in local council tallies after losing nearly 500 seats.

"People across the country have had enough of Conservative chaos and decline and voted for change with Labour," its leader Keir Starmer said shortly after confirmation of Parker's victory.

He called the result "phenomenal" and "beyond our expectations".

Writing earlier in Saturday's Daily Telegraph, Sunak had conceded "voters are frustrated" but tried to argue Labour was "not winning in places they admit they need for a majority".

"We Conservatives have everything to fight for," Sunak insisted.

'Spirit and values'

Labour, out of power since 2010 and trounced by Boris Johnson's Conservatives at the last general election in 2019, also emphatically snatched a parliamentary seat from the Tories.

Starmer has seized on winning the Blackpool South constituency and other successes to demand a general election.

Sunak must order a national vote be held by January 28 next year at the latest, and has said he is planning on a poll in the second half of 2024.

Labour has enjoyed double-digit poll leads for all of his 18 months in charge, as previous Tory scandals, a cost-of-living crisis and various other issues dent his party's standing.
On Thursday, it was defending nearly 1,000 council seats, many secured in 2021 when it led nationwide polls before the implosion of Johnson's premiership and his successor Liz Truss's disastrous 49-day tenure.

In the end, they lost close to half and finished third behind the smaller centrist opposition Liberal Democrats.

Meanwhile Labour swept crunch mayoral races across England, from Yorkshire, Manchester and Liverpool in the north to contests across the Midlands.

In London, Khan netted 44 percent of the vote and saw his margin of victory increase compared to the last contest in 2021.

"It's truly an honour to be re-elected for a third term," he told supporters, accusing his Tory opponent of "fearmongering".

"We ran a campaign that was in keeping with the spirit and values of this great city, a city that regards our diversity not as a weakness, but as an almighty strength -- and one that rejects right hard-wing populism," he added.

'Change course'

If replicated in a nationwide contest, the council tallies suggested Labour would win 34 percent of the vote, with the Tories trailing by nine points, according to the BBC.

Sky News' projection for a general election using the results predicted Labour will be the largest party but short of an overall majority.

Speculation has been rife in Westminster that restive Tory lawmakers could use dire local election results to try to replace Sunak.

Despite the returns being at the worst end of estimates, that prospect has not so far materialised.

Ex-interior minister and Sunak critic Suella Braverman warned in the Sunday Telegraph that Sunak's plan "is not working and he needs to change course", urging a more muscular conservatism.

But she cautioned against trying to replace him, warning "changing leader now won't work: the time to do so came and went".

Meanwhile, polling expert John Curtice assessed there were some concerning signs for Labour, which lost control of one local authority and some councillors elsewhere reportedly over its stance on the Israel-Hamas war.

"These were more elections in which the impetus to defeat the Conservatives was greater than the level of enthusiasm for Labour," Curtice noted in the i newspaper.

"Electorally, it is still far from clear that Sir Keir Starmer is the heir to (Tony) Blair."

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News Network
May 12,2024

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In an intriguing turn of events, authorities have levied a fine against an actress for breaching traffic regulations depicted within a television serial.

In the 14th episode of the popular serial ‘Seetha Raama’ a Kannada language drama series airing on Zee Kannada, a scene featuring two individuals riding a scooter caught the attention of viewers. While the rider adhered to safety protocols by wearing a helmet, the actress on the pillion did not.

Jayaprakash Yekkur, a vigilant resident of Mangaluru, took swift notice of this discrepancy and promptly lodged a complaint with the Mangaluru City Police Commissioner. Yekkur underscored the concern that such portrayals of traffic violations by actors and actresses could potentially convey misleading messages to viewers, particularly those who are impressionable. He urged authorities to take decisive legal action against the actress, the serial’s director, and the broadcasting channel.

In response to Yekkur’s complaint, the Commissioner of Police forwarded the matter to the Mangaluru Traffic Police station. Subsequently, notices were issued to the owner of the two-wheeler featured in the scene and the serial’s director. Upon investigation, it was revealed that the scene had been filmed in Nandini Layout, Bengaluru, and was referred to the Rajajinagar police station for further scrutiny.

On May 10, after thorough inquiries, the Rajajinagar police station imposed a fine of Rs 500 on both the actress and the owner of the two-wheeler. Furthermore, the production manager of the serial committed to adhering strictly to traffic regulations in future episodes.

Expressing his contentment with the resolution, Jayaprakash Yekkur commented that the prompt response from the police, coupled with the imposition of a fine, serves as a valuable lesson and contributes significantly to enhancing public awareness.

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News Network
May 4,2024

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Canadian Police said they have arrested three Indians they suspect were part of the alleged hit squad that had killed Hardeep Singh Nijjar, a Sikh separatist leader involved with the Khalistan movement, which calls for an independent Sikh state.

Nijjar's killing had become the epicentre of a diplomatic row between India and Canada last year after Prime Minister Justin Trudeau alleged the role of "Indian agents" in the murder. India had rejected the charge as "absurd" and "motivated".

The three arrested Indians - Karan Brar, 22, Kamalpreet Singh, 22, Karanpreet Singh, 28 - were living as non-permanent residents in Alberta for three to five years, said Superintendent Mandeep Mooker, who leads the Integrated Homicide Investigation Team. The police have also released their photos.

They have been charged with first-degree murder and conspiracy to commit murder, showed court documents.

Police said that none of the suspects were known to them earlier and they were investigating their possible ties to the Indian government.

The murder remains "very much under active investigation," Royal Canadian Mounted Police (RCMP) Assistant Commissioner David Teboul told a press conference on Friday.

"There are separate and distinct investigations ongoing into these matters, certainly not limited to the involvement of the people arrested today, and these efforts include investigating connections to the government of India," CTV News quoted him as saying.

Nijjar, a Canadian citizen who was wanted in India on various terror charges, was shot dead outside a gurdwara in Surrey on June 18, 2023. Trudeau's charge against India sparked a massive row later that year with both countries expelling diplomats of the other country.

A fresh row erupted earlier this week after separatist slogans on 'Khalistan' were raised at an event addressed by Trudeau, prompting New Delhi to summon their Deputy High Commissioner and lodge a strong protest.

On the sidelines of the event, Trudeau told reporters that Nijjar's killing had created a "problem" that he could not have ignored.

India rejected his comment and said it once again showed Canada provides political space given to separatism, extremism, and violence. "This not only impacts India-Canada relations but also encourages a climate of violence and criminality in Canada to the detriment of its own citizens," foreign ministry spokesperson Randhir Jaiswal said.

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