Bankruptcy rumour lands Apex Bank branch in trouble

[ Pisi Zauing ]
MIAO, Apr 13: In the midst of the Covid-19 lockdown, a rumour that the Arunachal Pradesh State Cooperative Apex Bank is on the verge of bankruptcy has landed its branch office here in Changlang district in troubled waters.
A large number of the bank’s clients, mostly villagers, thronged the branch with their MGNREGA job cards and old-age pension papers to withdraw their deposited money, violating the government’s advisory with regard to physical distancing.
Even though Branch Manager DN Thakur tried his best to convince the villagers that the rumour was false, not a single customer paid heed to it and the branch had to release their money.
“The villagers will not be getting the interest and many accounts will be closed as most of them left with no balance in their bank accounts,” the manager told this correspondent.
Miao subdivision has been ahead of other areas in terms of maintaining physical distancing ever since the lockdown was clamped on 24 March. It all went to bits on Monday.