As many as 12 cooperative banks have been liquidated since September 2021 after payment to depositors by Deposit Insurance and Credit Guarantee Corporation (DICGC)
Reserve Bank of India has cancelled the licence of “Deccan Urban Co-operative Bank Ltd., Vijayapur, Karnataka” with effect from the close of business on August 18, 2022. Consequently, the bank ceases to
0
One more bank from the cooperative sector has come under directions from the Reserve Bank of India (RBI). Last week, the Reserve Bank has put Vijayapur, Karnataka-based Deccan Urban Co-operative Bank Ltd under restrictions. For the next six months, account holders and depositors of the bank will not be able to withdraw more than Rs1000 from their account.
In a release, RBI says, Considering the bank s present liquidity position, a sum not exceeding Rs1,000 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the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI directions. However, 99.58% of the depositors are fully covered by the DICGC insurance scheme.
Citigroup considering divesting some foreign consumer units
Citigroup’s operations in Asia are led by Peter Babej, who previously headed up the lender’s business of advising banks and other financial institutions on mergers and acquisitions.
(REUTERS)Premium
. Updated: 20 Feb 2021, 06:29 AM IST Bloomberg
The company is weighing divesting certain units across retail banking in the Asia-Pacific region, including those in South Korea, Thailand, the Philippines and Australia
Share Via
Read Full Story
Citigroup Inc. is studying options for slimming down the firm’s sprawling international consumer operations as part of incoming Chief Executive Officer Jane Fraser’s efforts to simplify the bank.