Aryapuram Co-operative bank chairman refutes charges

Rajamahendravaram: Aryapuram Co-operative Urban Bank Chairman Challa Shankar Rao on Saturday said that the banks progress during his five years tenure is a glaring example for their commitment and dedication for the overall development of bank in all fronts.

Speaking to reporters at Press Club here, he said some persons are making baseless allegations against the bank management to tarnish the image of bank which stood first in the State and received appreciation from Reserve Bank of India (RBI) and from the State government.

He challenged them to prove the allegations made against him and said he was ready to face any punishment if they prove the allegations. The bank customers and depositors also know well how the bank was developed.The bank deposits were increased to Rs 630 crore by March 2019 as against Rs 340 crore by December 2013 and the loans were given to a tune of Rs 400 crore from Rs 254 crore.