Staff Reporter
Mapusa
Former Union Minister and ex-chairman of Mapusa Urban Co-operative Bank, Ramakant Khalap, on Friday welcomed the state government’s decision to purchase the bank’s head office building in Mapusa for Rs 25 crore to settle pending dues of depositors. He, however, said that he believed that the bank could still be revived by opening at least one branch with the support of the Reserve Bank of India (RBI) and the central government.
Addressing the media at his residence on Friday, Khalap lauded Chief Minister Pramod Sawant’s initiative, calling it a positive step. He suggested increasing the floor area ratio (FAR) of the 2,500 square metre property from 200% to 300% to maximise its financial potential. He said that the bank’s prime location could fetch a higher market value.
On the issue of pending dues, Khalap said that
Rs 30 crore remains unclaimed, as the amounts are either small or forgotten by depositors, while Rs 70 crore has been actively claimed, with deposits exceeding Rs 5 lakh. “Our total claims from depositors amount to Rs 70 crore. The book value of our properties in Panaji, Reis Magos, and other locations stands at Rs 65 crore, but the market value is much higher. This surplus can be used to clear all dues and even aid in the bank’s revival,”he said.
Khalap said that reviving the bank would be a significant achievement for the government, given its historical role in supporting Goa’s economy. “The bank has provided employment to over 1,000 youths and offered loans to small businesses and vendors to expand their trade. Its revival will give a boost to the cooperative sector,” he added.
Citing examples of the central government recapitalising nationalised banks, Khalap urged the state government to consider a similar approach to reviving the Mapusa Urban Cooperative Bank.
