Rupee Coop Bank depositors oppose DICGIC decision to pay Rs 5 lakh to account holders of stressed coop banks

Rupee Cooperative Bank, headquartered successful Pune, has been nether strict banking restrictions due to the fact that of mounting debt.

A radical of radical claiming to correspond the interests of relationship holders and depositors of Rupee Cooperative Bank has opposed the determination taken by the Deposit Insurance and Credit Guarantee Corporation (DICGC) to wage depositors of 21 stressed cooperative banks a sum of Rs 5 lakh wrong 90 days.

The DICGC has said that, pursuing the amendment of the DICGC Act, it volition marque payments to depositors wrong 90 days. Besides PMC, the ample banks see Rupee Cooperative Bank, Kapol Cooperative Bank, Maratha Coop Bank, and City Coop Ban, each from Maharashtra. Depositors successful these banks person been waiting for years for their money. RBI had placed the banks nether its all-inclusive directions, which included restrictions connected withdrawal of deposits.

Dhananjay Khanzode, 1 of the depositors of the Rupee Cooperative Bank, said that depositors should beryllium fixed their full amounts and not conscionable Rs 5 lakh since they person been waiting for years for their money. He asked depositors to hold for a period since the determination of the Bombay High Court is inactive awaited. The Rupee Cooperative Bank depositors had filed a civilian writ petition with the Bombay High Court, seeking merchandise of their deposits and enactment against the existent administrators of the bank.

Khandzode said that helium would attack depositors of the different stressed banks arsenic good to jointly tackle this issue.

DICGIC has said that banks volition person to taxable a assertion database by October 15 and update the presumption arsenic of November 29 with main and involvement successful a last updated list.

Rupee Cooperative Bank, headquartered successful Pune, has been nether strict banking restrictions due to the fact that of mounting debt.