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Deccan Urban Co-operative Bank: RBI Restricts Withdrawal at Rs1,000 for 6 Months

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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the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI directions.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. ....

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Citigroup considering divesting some foreign consumer units

Citigroup considering divesting some foreign consumer units
Citigroup’s operations in Asia are led by Peter Babej, who previously headed up the lender’s business of advising banks and other financial institutions on mergers and acquisitions.
(REUTERS)Premium
. Updated: 20 Feb 2021, 06:29 AM IST Bloomberg
The company is weighing divesting certain units across retail banking in the Asia-Pacific region, including those in South Korea, Thailand, the Philippines and Australia
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Citigroup Inc. is studying options for slimming down the firm’s sprawling international consumer operations as part of incoming Chief Executive Officer Jane Fraser’s efforts to simplify the bank. ....

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Deccan Urban Co-op Bank: RBI puts Rs 1,000 withdrawal limit for next 6 months

The Reserve Bank of India has put restrictions on the Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits on Friday (February 19). The Deccan Urban Co-operative Bank Ltd has been prohibited from making any fresh investments or incur any liability without taking permission from the Reserve Bank of India. ....

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RBI Puts Rs 1 000 Withdrawal Cap On Deccan Urban Co Op Bank Fresh Loans Deposits Restricted

BW Businessworld
RBI Puts Rs 1,000 Withdrawal Cap On Deccan Urban Co-Op Bank; Fresh Loans, Deposits Restricted
It has also asked the lender to desist from disbursing any payment whether in discharge of its liabilities or otherwise, or dispose of any of its assets except as notified in the RBI direction.
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The Reserve Bank on Friday said it has barred Karnataka-based Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits and customers cannot withdraw more than Rs 1,000 from their savings account for a period of six months.
The lender has also been asked not to make fresh investments or incur any liability without its prior permission. ....

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RBI puts Rs 1,000 withdrawal cap on Deccan Urban Co-op Bank

The Reserve Bank on Friday said it has barred Karnataka-based Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits and customers cannot withdraw more than Rs 1,000 from their savings account for a period of six months.
The lender has also been asked not to make fresh investments or incur any liability without its prior permission.
The RBI said it issued the directions to chief executive officer of the bank on Thursday (February 18).
It has also asked the lender to desist from disbursing any payment whether in discharge of its liabilities or otherwise, or dispose of any of its assets except as notified in the RBI direction. ....

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