With panick-striken depositors resorting to withdrawal of deposits, the AP Mahesh Cooperative Urban Bank today announced that there was no reason for concern as the bank had adequate liquidity and there were no big sticky assets.
It is reliably learnt that withdrawals in the past two days alone amounted to over Rs 25 crore amidst growing public concern over fate of urban banks in the state.
V K Taori, the MD and CEO of the bank, told media persons that the bank had Rs 208 crore liquid assets and even if a majority of depositors decide to withdraw, they would repay with in a few hours of notice.