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Karad Janata Sahakari Bank News

Karad Janata Sahakari Bank

09 Dec 2020

Karad Janata Sahakari Bank licence cancelled – Depositors should know This

99% depositors will get full payment. Payment as per Deposit Insurance and Credit Guarantee Corporation. Monetary ceiling of Rs 5 lakh only.

Karad Janata Sahakari Bank

08 Dec 2020

Karad Janata Sahakari Bank's licence cancelled: here's why

According to Section 22 of the Banking Regulation Act, the bank does not have the capital and the scope of earnings The RBI also cited that the bank failed to meet the standards of Section 56 of the Banking Regulation Act, 1949 Every depositor is entitled to repayment of their deposits up to a monetary ceiling of Rs 5 lakh only from the DICGC as per usual terms and conditions

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