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60%
2.80 

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Oct 09, 2005 02:02 PM 5793 Views
(Updated Oct 09, 2005 02:02 PM)

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I read the news about the run on the Janakalyan Sahakari Bank, a most unwanted one, mainly resulted by unethical reporting by Lokasatta. The Editor of the paper should have verified the facts before publishing such news which affects the immage of the bank of more than 30 years standing and unnecessary tension to the depositors. Its reporting that 5 Directors of the Bank were fined by RBI itself is illogical. It at all RBI fines, the whole Board, consisting of about 16 Directors would be fined and not a select 5 Directors. It would have been better for the paper to desist from publishing news on which they do not have any authentic proof and/or not aware of the rules and regulations of RBI. The subsiding of the run in the next two days and depositors returning back to deposit the money withdrawn shows the confidence reposed by the patrons of the Bank. May wisdom dawn, at least henceforth, on Lokasatta and many other papers of such nature who are craving for cheap publicity.


Haridaass


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