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According to the RBI, the bank will stop operating on September 22. Customers will be unable to deposit or withdraw funds in such a situation.
Customers of 16 stressed cooperative banks to receive Rs 5 lakh deposit insurance cover by RBI
New Delhi, November 28 Customers of 16 stressed cooperative banks will get up to Rs 5 lakh deposit insurance cover on Monday by Reserve Bank of India’s subsidiary DICGC as part of its mandate u
Customers of 16 stressed cooperative banks will get up to Rs 5 lakh deposit insurance cover.
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).