On June 3, 2025, panic gripped customers at the Diglipur Branch of the Andaman and Nicobar State Cooperative Bank Ltd (ANSCB) after a YouTube video by Manoj Paul claimed the bank was shutting down. Paul, a former Lok Sabha candidate, urged depositors to withdraw funds immediately, triggering chaos.
Hundreds rushed to the branch, forcing the bank to limit withdrawals to ₹5,000 per customer. Officials reassured depositors that funds were safe and the bank remained financially stable.
The Managing Director later issued a statement reaffirming the bank’s strong financial health, citing capital adequacy, asset quality, and liquidity levels above regulatory requirements.
This incident follows an FIR filed at the Crime and Economic Offence Police Station regarding loan irregularities, implicating former MP Kuldeep Rai Sharma and other officials.
ANSCB assured customers that it remains well-capitalized, fully operational, and compliant with banking regulations. Customers were urged to avoid misinformation and reach out to bank representatives for clarification.
