Rana seeks action against bank scamsters

Union rural development minister Kashiram Rana has called for strict action against those responsible for the collapse of several co-operative banks in Gujarat.

Inaugurating a new building of the Navapura Urban Co-operative Credit Society Ltd in Surat, Rana said, "Such elements have no right to play with the hard-earned money of thousands of small depositors. They should be punished."

Small depositors have lost confidence in the co-operative banks following the scams, Rana said.

Co-operative banks and societies should give top priority to the middle class and the poor and restore the faith of the small depositors in the co-operative banks, Rana said.

"People associated with co-operative banks and societies should study the changing trends in the finance system," he said.