Dear Sirs,
I wish to bring to the notice of all cocerned the following.let it be brought to the notice of concerned authorities.
1) Co-op Banks are working after RBI permits are obtained.
2) RBI conducts regular inspections.
So RBI should be made accountable if these banks fail due to mismagement or any other fraud.
More over the deposits in all banks are insured by DICGC up to 1 lakh rupees.DICGC collects 8 paise per 100 rupees,ie; 8000/1 crore.This runs into 100 of crores every year.
But depositors are not paid their matured ammount if the bank could not pay due interference of RBI.DICGC comes into picture only after the bank is liquidated.Why should the depositors suffer for follies of RBI?
It should be clearly told to the customers that they are taking these risks when depositing with these banks.
PMKRAO.


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