Another bank in Maharashtra hit after Rs; Permanent cancellation of license by RBI RS News

Pritam Pandit, Solapur September 23 : Reserve Bank of India has revoked the license of The Lakshmi Co-operative Bank in Solapur. An order has also been given to close all financial transactions of Lakshmi Bank, which is 100 years old. A few months ago, as the bank was in financial trouble, the depositors rushed to withdraw their deposits. But the bank management assured that the money of the depositors will be returned. Meanwhile, the deposits of some of the depositors were returned. However, the deposits of 94 thousand depositors are stuck in the bank.

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phone pe going Karnataka: After Vedanta-Foxcon, now ‘this’ company will leave Maharashtra, Lakshmi Cooperative Bank owes Rs 105 crore to creditors. 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. Reserve Bank of India has appointed an administrator to Lakshmi Co-operative Bank. The RBI has said that the depositors of the bank can claim up to Rs 5 lakh. The RBI has said that the co-operative bank is not in a position to refund the entire amount of the existing depositors as they do not have sufficient capital. Spicejet stock holders double blow! Important news for investors While announcing the cancellation of the bank’s license, the central bank said that as per the details given by the bank, 95 percent of the depositors will be given their entire deposits through the Deposit Insurance and Credit Guarantee Corporation. If the bank goes bankrupt, every depositor has the right to claim insurance on the deposit amount under the new rules, up to a limit of five lakhs.

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Published by:Kiran Pharate

First published:

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