0 One more bank from the cooperative sector has come under directions from the Reserve Bank of India (RBI). Last week, the Reserve Bank has put Vijayapur, Karnataka-based Deccan Urban Co-operative Bank Ltd under restrictions. For the next six months, account holders and depositors of the bank will not be able to withdraw more than Rs1000 from their account.
In a release, RBI says, "Considering the bank's present liquidity position, a sum not exceeding Rs1,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI directions. However, 99.58% of the depositors are fully covered by the DICGC insurance scheme."