Praja Coop bank dupes depositors

hyderabad: around the time reserve bank of india chief general manager m s rekh rao was discussing 'effective management techniques' with chairmen of cooperative urban banks here on saturday, depositors were lugging away furniture and electronic goods from the praja co-operative urban bank ltd office at hasmathpet in ranga reddy district. the reason: the management and staff of the snall bank have vanished after defaulting on payments.depositors said that the bank had stopped redeeming their matured deposits for a month now.and on saturday, no staff turned up for duty. although public 10 lakh, it's another bank going bust. banking sources said the less than two-year-old bank's promoter dilawar khan was recently disqualified from continuing as a chairman by the registrar of cooperative societies, after the bank's performance turned limp. sources said an rbi team which inspected the bank recently had found irregularities in its functioning. depositors said the bank had been failing to honour even withdrawals of rs 3,000.this was situation for the last one month and adding to our suspicion the management was absent today, said a jagadish chandra who deposited rs 17,200 in the bank. customers were seen carrying away computers, aircoolers