Deccan Urban Co-op Bank put under RBI ‘Directions’ as of Feb 19
February 20, 2021
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Withdrawals capped at ₹1,000 per depositor; 99.58% of depositors fully covered by DICGC insurance scheme
The Reserve Bank of India (RBI) has issued Directions to Deccan Urban Co-operative Bank (Vijayapur, Karnataka), whereby, as from the close of business on February 19, 2021, deposit withdrawals have been capped at ₹1,000 per depositor.
“Considering the bank's present liquidity position, a sum not exceeding ₹1000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.