Frustrated by the rejection of their deposit recovery applications, Krantiveera Sangolli Rayanna Urban Co-operative Credit Society depositors have decided to launch an agitation on Monday, March 3, 2025. The protest is aimed at pressuring the Special Officer and Competent Authority (Under KPIDFE – IMA & Other Scams) to return their hard-earned money without further delay.
As a first step, a memorandum was submitted today to the DC by a large gathering of depositors at the latters Office in Belagavi, under the leadership of Adv. Vikram Singh Rajput.
The depositors have urged the government to intervene before March 3 and ensure the safe return of their deposits.
“In November 2023, the depositors were asked to file applications for deposit recovery in the Krantiveera Sangolli Rayanna Urban Co-operative Credit Society scam. People traveled to Bengaluru, submitted all necessary documents, and were assured by officials that their deposits would be returned within five to six months. However, now, without any valid reason, their applications have been rejected on the pretext of ‘insufficient evidence.’ This has created a huge atmosphere of anxiety among the depositors.”
According to estimates, nearly 5,000 depositors of Krantiveera Sangolli Rayanna Urban Co-operative Credit Society are affected by this decision. Adv. Rajput, who is also one of the depositors, expressed deep concern over the rejection:
“Even after providing all required documents, our applications have been thrown out. This is a clear injustice. The government must step in to correct this immediately, or we will be forced to launch a large-scale protest on March 3.”
With growing unrest among the depositors, all eyes are now on the government’s response before the March 3 deadline.