On liquidation, it said every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC). "As per the data submitted by the bank, 99.98 per cent of the depositors are entitled to receive full amount of their deposits from DICGC,” the press release read., Companies News, Times Now
The Reserve Bank has cancelled the license of United India Co-operative Bank Bijnor, Uttar Pradesh and asked the bank not to carry on any banking business, with effect from the close of business on July 19, 2023