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More than 90% CKP Co-op Bank depositors to get back money, says RBI

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC

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The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. Illustration: Binay Sinha

Anup Roy Mumbai

2 min read Last Updated : May 03 2020 | 10:35 PM IST

More than 99 per cent of the depositors in CKP Co-op Bank will get full payment of the deposits back from the Deposit Insurance and Credit Guarantee Corporation (DICGC), a senior official of the Reserve Bank of India (RBI) tweeted on Sunday.

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancellation on its website on Saturday. It said deposits up to Rs 5 lakh are guaranteed by the DICGC. This portion is 99.2 per cent.

ALSO READ: RBI cancels CKP Co-op Bank's licence on adverse financial position

“CKP Co-op Bank, Mumbai, has been

Topics : Reserve Bank of India RBI cooperative banks

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