THIS bank permanently shutting down business from today: Got an a/c here? Know what happens to your money
On August 10, the RBI had cancelled the licence of Rupee Co-operative Bank Ltd as the lender did not have adequate capital and earning prospects.
Sep 22, 2022, 08:49 AM IST
THIS bank will be shutting down from tomorrow; what will happen to depositor’s money?
On August 10, the RBI had cancelled the licence of Rupee Co-operative Bank Ltd as the lender did not have adequate capital and earning prospects. However, the RBI said that in compliance to an order of the High Court of Bombay, its direction will become effective after six weeks i.e, from August 10 onwards.
Sep 21, 2022, 10:40 AM IST
Government's big decision on bank deposit insurance
PM Modi said that today is a very important day for the country, for the banking sector, and for crores of bank account holders of the country.
Dec 12, 2021, 15:38 PM IST
Big Banking Update! Depositors of 16 stressed banks to get up to Rs 5 lakh on Monday
Customers of 16 stressed cooperative banks will get up to Rs 5 lakh deposit insurance cover.
Nov 28, 2021, 21:34 PM IST
Co-operative societies can't use 'bank' in their names: RBI
In a statement, RBI said it has come to notice that some cooperative societies are using the word 'bank' in their names in violation of the Banking Regulation Act.
Nov 22, 2021, 15:52 PM IST
Modi govt’s big decision! Depositors to get coverage of up to Rs 5 lakh if bank fails
Deposit Insurance Credit Guarantee Cooperation (DICGC) insures all bank deposits, such as savings of fixed or current deposits or recurring deposits, and it covers all commercial banks, including foreign bank branches in India.
Jul 29, 2021, 10:38 AM IST
DICGC Amendment Bill gets Cabinet approval, up to 5 lakhs to remain safe in case of banks shut
The Union Cabinet on Wednesday approved the Deposit Insurance and Credit Guarantee Corporation Bill, 2021, which proposes to provide relief to small depositors by providing guarantees on their life savings. According to Finance Minister Nirmala Sitharaman, the bill will increase the sum insured in both principal and interest on bank deposits of each depositor to Rs 5 lakh.
Jul 29, 2021, 09:56 AM IST
