Depositors eligible under the deposit insurance scheme can claim amounts up to ₹5 lakh and have been advised to file their claims with the bank. The bank had deposits of ₹2,436 crores as of March 2024.
These measures were implemented due to concerns over the bank’s liquidity, leading the RBI to restrict fund withdrawals from savings, current, and other deposit accounts. The regulator stated that these steps are necessary to safeguard depositors’ interests.
The RBI will continue monitoring the bank’s financial condition and may revise the restrictions as needed. The directives will remain in force for six months from 13 February 2025.
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