There is good news for the customers of 16 co-operative banks of the country, the customers of these banks are going to get 5-5 lakh rupees. Let us tell how you will get this Rs.
There is good news for the customers of 16 cooperative banks of the country, which have been facing crisis for a long time. The customers of these banks are going to get 5-5 lakh rupees.
According to the guidelines of RBI, this amount will be given under the Deposit Insurance Cover Scheme. RBI’s subsidiary DICGC will release this amount under a new rule. The DICGC had earlier prepared a list of 21 banks, but five banks were left out of the list.
The customers of these banks will not get the benefit
DICGC excluded five other co-operative banks, including Punjab and Maharashtra Co-operative Bank (PMC), from this list for going through the resolution process. Their customers will not get a deposit insurance cover of Rs 5 lakh.
Getting benefit under this law
Let us tell you, in August, Parliament had passed the DICGC (Amendment) Bill, 2021. The aim is to ensure that account holders get up to Rs 5 lakh within 90 days of the RBI imposing the moratorium on banks.
This law has come into force from 1 September 2021, and the time period of 90 days will be completed on 30 November 2021. The period of 90 days for payment in the first phase has been completed on November 30. According to the information, there are lakhs of such customers whose money has not yet reached their account. Such customers need not worry.
It has been said that the money will reach everyone’s account in a week. These are all the banks which had gone bankrupt. Also, there was a ban on the transaction of customers’ money for a long time.
The customers of these banks will get benefits
1- Adoor Cooperative Urban Bank- Kerala
2- City Cooperative Bank- Maharashtra
3- Kapol Cooperative Bank- Maharashtra
4- Maratha Shankar Bank, Mumbai- Maharashtra
5- Millat Cooperative Bank- Karnataka
6- Padmashree Dr. Vithal Rao Vikhe Patil- Maharashtra
7 –Peoples Cooperative Bank, Kanpur- Uttar Pradesh
8- Shree Anand Cooperative Bank, Pune- Maharashtra
9- Sikar Urban Cooperative Bank Ltd.- Rajasthan
10- Shree Gururaghavendra Sahakar Bank
Regular- Karnataka 11- Mudhoi Cooperative Bank- Karnataka
12- Mata Urban Cooperative Bank – Maharashtra
13- Sarjeraodada Nashik Shirala Cooperative Bank- Maharashtra
14- Independence Cooperative Bank, Nashik- Maharashtra
15- Deccan Urban Cooperative Bank, Vijaypur- Karnataka
16- Planet Cooperative Bank, Guna- Madhya Pradesh
