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| Sunday, 12 January 2003 |
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Pramuka stakeholders await Central Bank decision The Pramuka Bank Employees Union and the Stakeholders Association are awaiting the response of the Central Bank for the fresh proposals submitted by them to reopen Pramuka Savings and Development Bank Ltd (PSDB). President of the Union Sunimal Dabarera said that according to information received from the Central Bank, they were confident of a response from the Central Bank Monetary Board on Friday (9). However, this did not come. "We will see the response of the Central Bank and act accordingly," he added. "Meanwhile, we have embarked on a campaign to get guarantees from account holders to the effect that they will not withdraw their deposits if the bank is opened. "So far we have been able to get guarantees from institutional depositors that they will not withdraw Rs 1.5 billion for two years if the bank is reopened." He said that they will be in a position to get guarantees from individual depositors as well. "But we need the cooperation of the Central Bank. "As it is, we feel that the Central Bank is not interested in reopening the bank." The Union is also holding discussions with a prospective investor to get him to deposit Rs 500 million in PSDB to cushion the effect of withdrawals. The discussions are at a preliminary level, he added. The bank had 160 employees and 15,000 account holders. |
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