Another bank in Maharashtra hit after Rs; Permanent cancellation of license by RBI
95 percent of depositors will get their entire deposits through the Deposit Insurance and Credit Guarantee Corporation (DICGC). If the bank fails, every depositor has the right to claim insurance on the deposit amount under the new rules. Its limit is up to five lakh rupees.
After bank closure, customers can claim sum insured up to Rs 5 lakh from DICGC. It was also said that the property of these defaulters will be seized and auctioned soon. It was also said that the depositors will get a refund of up to five lakh rupees.
Published by:Kranti Kanetkar
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