Seva Vikas Coop Bank: RBI cancels licence of this Pune-based bank; Here's how you can get your money under DICGC scheme

The Reserve Bank of India (RBI), vide order dated October 10, 2022, has cancelled the licence of The Seva Vikas Co-operative Bank Ltd., Pune, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on October 10, 2022, an official statement said.

Jalgaon People’s Co-op Bank: RBI imposes  <span class='webrupee'>₹</span>50 lakh penalty for this reason; Is your money safe?

Jalgaon People’s Co-op Bank: The co-operative bank had not classified certain accounts as non-performing assets in accordance with norms, and had levied penal charges for non-maintenance of minimum balances in saving banks accounts without notifying the customers and without providing one month time for restoration of minimum balances in the accounts.

A portion of your savings in bank may not be totally secure. We explain why

The Deposit Insurance and Credit Guarantee Corporation (DICGC) protects your money from bank failures and keeps it safe in a bank. Hence, you do not need to be concerned about the security of your funds. Read the article to learn more about it.

Are you a depositor in one of these 17 co-operative banks? Your money will be released by DICGC in October; Details here

The Reserve Bank of India (RBI) had imposed several restrictions, including on withdrawals, by depositors of these 17 banks in July in view of their deteriorating financial positions.

Deccan Urban Co-operative Bank: RBI cancels licence; Here's why

As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the central bank said in a release.

Shankarrao Pujari Nutan Sahakari and Harihareshwar Sahakari Bank: RBI's deposit insurance arm to pay depositors in Aug

Depositors of the two Maharashtra-based banks will get the amount credited to the alternate bank account specified by them, or on their consent, to their Aadhaar-linked bank accounts.

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Seva Vikas Coop Bank: RBI cancels licence of this Pune-based bank; Here's how you can get your money under DICGC scheme

personal finance

personal finance

personal finance