Published 13 days ago

RBI Imposes Restrictions On Maharashtra-Based Konark Urban Co-op Bank

Summary by NDTV

The RBI on Tuesday imposed several restrictions, including on withdrawals, on The Konark Urban Co-operative Bank, Ulhasnagar (Maharashtra), in the wake of the bank's deteriorating financial situation. The eligible depositors will be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh only from the Deposit Insurance and Credit Guarantee Corporation (DICGC). The restrictions in the form of Directions under Sect…

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RBI Imposes Restrictions On Maharashtra-Based Konark Urban Co-op Bank

13 days ago·New Delhi, India

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RBI Imposes Restrictions On Maharashtra's Konark Urban Co-op Bank

The RBI on Tuesday imposed several restrictions, including on withdrawals, on The Konark Urban Co-operative Bank, Ulhasnagar (Maharashtra), in the wake of the bank's deteriorating financial situation. The eligible depositors will be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh only from the Deposit Insurance and Credit Guarantee Corporation (DICGC).The restrictions in the form of Directions under Secti…

13 days ago

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