Sangolli Rayanna Society depositors protest at DC office

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From the past several months the depositors of Shri Krantiveer Sangolli Rayanna Co-Operative Credit Society were not able to get back their deposits even after maturity.

Today many depositors of the bank marched to DC office from the Office situated on Swami Vivekakanad Road.

It may be recalled that at a press conference held recently the broken down Anand Appugol said, The Society had suffered losses due to demonetisation. At the same time denied wrong use of the depositors money or any irregularities and vowed to return money, with interest.

rayana-bankDepositors wanted the Deputy commissioner to intervene and get back the depositor’s money.

Many of the depositors had deposited money in the bank in their children’s name hoping the money will help them in their future.

About 300 odd crores of money is stated to be deposited by the depositors in Krantiveer Sangolli Rayanna Co-Operative Credit Society.

17 thoughts on “Sangolli Rayanna Society depositors protest at DC office”

  1. Whenever co-op society’s display huge banner assuring for lucrative/abnormal interest rates, people should holistically assess and invest carefully after thorough background check of society board of directors, where they are investing money etc. Protesting in front of DC office doesn’t make sense, where in DC was not involved in while taking investment decision by depositors.

  2. This type of incidences keeps on happening again and again. In last few yrs. we know of kirloskar finance, Sahara…..etc, have failed to return the investors deposits. These are the people who have enjoyed life with depositors money. Peoples memory is short, still keep money in such Co-operative banks. When sangolli rayanna started advertising on TV, lavishly spending on movie by same name, it was certain, days of this Co-operative sector is numbered. How DC should help them to get money? They have not asked him at the time of depositing money. Looking at past experiences, it is certain, people will not be getting the money, they have deposited. They have to fight long drawn legal battle. Knowledge never comes free, amount lost is to be considered as gurudakshina.

  3. GourGonda seems to be teaching principles of investment, when he isn’t a sufferer.It’s the decision of the DC whether the society should be allowed to run in his jurisdiction, and hence he will be the only person to guide us.

  4. collectively all depositor if fight definitely will get money. please inform and whats up all depositors No to me 9341109691. we Hope let God give him good mind & thought.

  5. He should be arrested first and put behind the bar. All his moveable and immovable properties,bank accounts and lockers should be seized and auctioned to make depositors payment.There are so many societies in Belgaum which are almost on the verge of collapse and depositors are bound to loose their money.

    • people should think before keeping money..better to keep it in nationalised bank can 14%/15% interest rates cooperative society is giving.also i request people not to go to this type of bank.and please keep your hardwork money in nationalised bank.why to suffer after keeping in society

  6. Investors should learn the lesson from it, if anybody is promising interest more that 8%, is is definitely scandalous transactions, so I request all not to invest i Pvt. Societies which is promising interest more than 8%, is is highly impossible to fulfill, otherwise nationalize banks and Post offices would have done the same.


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