Depositors Of These 17 Co-operative Banks Will Get Their Money Soon

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.Also Read – ‘Freebies Never Free’: RBI MPC Member Asks Political Parties To Let Voters Know Impact Of Subsidies That Distort Prices

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. Also Read – RBI May Set 7.23 Percent Cutoff Yield On New 10-Year Bond : Report

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. Also Read – HDFC Bank Increases Interest Rates on Fixed Deposits | Check NEW Rates Here

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.