The Reserve Bank of India (RBI) has said that it will soon make payments to the eligible depositors of a total of 17 cooperative banks in the country.
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RBI Co-operative Banks: The Reserve Bank of India (RBI) has said that it will soon make payments to the eligible depositors of a total of 17 cooperative banks in the country. Due to the deteriorating economic condition of 17 banks, the RBI had banned the withdrawal of funds from the accounts in July 2022. Now Deposit Insurance and Credit Guarantee Corporation (DIGC) will pay the depositors. DICGC is a specialised division of the Reserve Bank of India. DIGC provides insurance up to Rs 5 lakh to bank account holders. Most of these 17 banks are cooperative banks from Maharashtra.
8 banks from Maharashtra included
These include Maharashtra’s co-operative banks Saibaba Janata Sahakari Bank, Anjangaon Surji Nagri Sahakari Bank, Sahebrao Deshmukh Co-operative Bank, Sangli Co-operative Bank, Raigad Co-operative Bank, Nashik District Girna Sahakari Bank, Jaiprakash Narayan Nagari Sahakari Bank, and Karmala Urban Co-operative Bank.
Banks from Uttar Pradesh
According to DICGC, payments to eligible depositors of Uttar Pradesh-based Lucknow Urban Co-operative Bank, Urban Co-operative Bank (Sitapur), National Urban Co-operative Bank (Bahrich), and United India Company Co-operative Bank (Nagina) will be made in October.
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Banks from Karnataka, Delhi, and Andhra Pradesh also included
These include Ramgarhia Co-operative Bank in New Delhi, Suri Friends Union Co-operative Bank in Suri, Birbhum, West Bengal and Durga Co-operative Urban Bank in Vijayawada, Andhra Pradesh. At the same time, Karnataka Shree Mallikarjuna Pattana Sahakari Bank Regularya (Musky) and Shree Sharada Mahila Sahakari Bank (Tumkur) are also included in this list.
