New Delhi/Mumbai: Finance Minister P Chidambaram today (Aug 5, 2004) said the moratorium on Global Trust Bank (GTB) would be lifted soon.

"I am in touch with the RBI Governor, the depositors are absolutely safe and we will lift the moratorium soon," the Minister said.

RBI had imposed a moratorium on GTB under which the depositors were allowed to withdraw only Rs 10,000.

Chidambaram also said that he will meet Union Commerce and Industry Minister Kamal Nath tomorrow to discuss the Exim policy.

Meanwhile, reports from Mumbai state that M P Chitale and Associates have been replaced by Verma and Verma Associates, Kochi-based accountancy firm, to assess the assets and liabilities of GTB, which is proposed to be merged with Oriental Bank of Commerce.

Verma and Verma Associates would now assess liabilities and assets as on July 24, 2004, the date on which moratorium was imposed and a day before date of GTB's merger with the Delhi-based public sector bank, banking sources told reporters in Mumbai today.

The sources, however, did not elaborate on the reasons for replacement of firm.

The accountancy firm would look at period beginning April 1, 2004 and begin work after GTB Board considers accounts for the year ended March 31, 2004 in the August 9 meeting, they said.

RBI has placed the draft scheme for GTBs merger with OBC on its website to seek public comments by August 7.

The Government is expected to firm up the date of merger later, sources added.