(a) whether Global Trust Bank is facing financial crunch;
(b) if so, the details thereof;
(c) whether Reserve Bank has given any assurance to this bank`s
financial position; and
(d) if so, the details thereof ?
(a) whether Global Trust Bank is facing financial crunch;
(b) if so, the details thereof;
(c) whether Reserve Bank has given any assurance to this bank`s
financial position; and
(d) if so, the details thereof ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANANT G. GEETE)
(a) to (d): RBI has reported that Global Trust Bank Ltd at present is not
facing any financial crunch. The bank however had faced large withdrawals
in some branches in Hyderabad and Secunderabad during the first week of
June 2002, due to certain adverse local media reports. The bank had made
necessary arrangements to meet the cash withdrawals and returned to
normalcy. RBI has clarified that it does not have concerns relating to
soundness and stability of the bank.