MUMBAI: The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 co-operative banks in October.
The RBI had imposed several restrictions, including on withdrawals, by depositors of these 17 banks in July in view of their deteriorating financial positions.
DICGC, an RBI arm, provides an insurance cover of up to Rs 5 lakh on bank deposits.
Of the 17, eight are in Maharashtra, four in Uttar Pradesh, two in Karnataka, and one each in New Delhi, Andhra Pradesh and West Bengal.
The cooperatives from Maharashtra are Sahebrao Deshmukh Co-operative Bank, Sangli Sahakari Bank, Raigad Sahakari Bank, Nashik Zilla Girna Sahakari Bank, Saibaba Janata Sahakari Bank, Anjangaon Surji Nagari Sahakari Bank, Jaiprakash Narayan Nagari Sahakari Bank, and The Karmala Urban Co-op Bank.
