The Reserve Bank of India (RBI) has granted permission to needy depositors and depositors above 60 years of age of Rupee Cooperative Bank to withdraw large amounts in single transaction under the Hardship Scheme, giving them some relief, Mukund Abhyankar, chairman of the administrative board of Rupee Bank, said.
This means that needy depositors and those above the age 60 years and above will be able to withdraw Rs 50,000 and for medical expenses Rs 100,000 at a time from their accounts under the Reserve Bank’s scheme according to the discretion of the administrative board, Abhyankar said.
Until now, in case of withdrawal of Rs 50,000, depositors were allowed withdrawal of Rs 5,000 per month for 10 months. Considering the fact that senior citizens had to visit bank every month, several requests were made to permit this withdrawal at a single time. Till date, under the Hardship Scheme, Rs 132.74 crore has been disbursed to 31,784 applicants.
Till date, around 204 employees have availed of the facility of Voluntary Retirement Scheme announced by Rupee Bank, resulting in 204 vacancies. To fill up these vacancies, 102 employees from Pune were transferred on October 21, 2015. These employees were never transferred outside the radius of 90 km from Pune earlier, Abhyankar pointed out.
As per an agreement between the management of the bank and the staff union in 2000, the former had the right to transfer employees outside the radius of 90 km at least once during their service period. Of the 102 employees, 89 accepted transfer orders and joined the respective branches. Three employees went on medical leave while two rendered their resignation. The remaining eight employees had filed a suit in the Industrial Court against the management.