NT ReporterPanaji
Amid efforts to strengthen the comunidades of the state, a Rs 3.8 crore of comunidade funds are parked with the Mapusa Urban Co-operative Bank of Goa and Madgaum Urban Co-operative Bank Ltd., both of which are now under liquidation.
A major chunk of the funds—72 per cent—is at risk of being given up as lost because the timeline for the recovery process cannot be determined, the government informed.
Minister for Cooperation Subhash Shirodkar, on Tuesday, replying to a question raised by MLA Aleixo Reginaldo Lourenco, said Rs 2.7 crore of comunidade deposits with the two banks are in danger of being unrecoverable since deposit insurance provides cover of only up to Rs 5 lakh per depositor.
“If the total amount of the deposits exceeds the insured limit, it remains at the risk of being lost,” said Shirodkar. He said there is no specific scheme on the part of the state government to provide compensation to the comunidades for the loss of their uninsured deposits. The minister said that the deposits of the comunidades with the two banks are part of their corpus funds, which are essential for their functioning.
As per the reply, there are 32 comunidades that have deposits with the two liquidated cooperative banks—of which Mapusa Urban holds the deposits of 29 comunidades, while three comunidades have deposits with the Madgaum
Urban Bank.
In Mapusa Urban, the total deposits of the comunidades amount to Rs 2.67 crore, out of which Rs 88 lakh is recoverable as it is under insurance cover. The fate of the remaining Rs 1.8 crore is uncertain since it is uninsured.
Total deposits with Madgaum Urban amount to Rs 1.1 crore, comprising Rs 11.4 lakh which is insured, while Rs 94 lakh is outside the insurance cover of the DICGC and will be paid subject to availability
of funds.
