Photo: The New Indian Express
RBI Places Withdrawal Cap On Deccan Urban Co-Op Bank Customers
The RBI on February 19 placed a withdrawal cap limit of Rs1000 on the customers of Karnataka-based Deccan Urban Co-operative Bank. Valid for six months, the RBI barred the bank from issuing loans and accepting deposits due to its liquidity status. Specifying that restrictions not be misunderstood with the cancellation of banking license, the RBI assured insurance of 99.58% of depositors. Last year, RBI had penalised DUCB for breaching banking… read-more
Tags: RBI, Deccan Urban Co-operative Bank, Withdrawal limit, Co-operative
Courtesy: NDTV
Photo; National Herald
RBI Axes License Of Karad Janata Sahakari Bank; Assures Depositors Of Pay Back
The RBI has cancelled the license of Maharashtra-based Karad Janata Sahakari bank citing bankruptcy. However, the banking authorities said that over 99% will be paid fully against their deposits, but will fail to pay its present depositors in full. The RBI also stated that on the event of liquidation, the paybacks will have monetary ceiling of Rs Five lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of… read-more
Tags: RBI, business, Maharashtra , Bank, Karad Janata Sahakari Bank, Co-operative
Courtesy: The New Indian Express
