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As many as 12 cooperative banks have been liquidated since September 2021 after payment to depositors by Deposit Insurance and Credit Guarantee Corporation (DICGC)
RBI extends restrictions on Karnataka's Millath Co-Operative Bank till May 7
RBI said other terms and conditions of the directives will remain unchanged during the latest extension.
Depositors of 21 banks, including Punjab and Maharashtra Cooperative (PMC) Bank, will receive up to Rs5 lakh from the Deposit Insurance & Credit Guarantee Corporation (DICGC) within 90 days or by 29 December 2021 under the all-inclusive directions (AID).