MUMBAI : The Deposit Insurance and Credit Guarantee Corporation has received a total claim of about ₹14,100 crore in case of defaulting co-operative banks amid massive scam at the now-crippled Punjab & Maharashtra Cooperative Bank, according to the RBI. Since January this year, nearly 30 cooperative banks have been placed under RBI administrators. The break-up of the claim with DICGC shows ₹3,414 crore in the case of state cooperative banks and district central cooperative banks, and ₹10,684 crore in the case of urban cooperative banks, including PMC Bank, according to the RBI. DICGC came into limelight since the RBI imposed deposit withdrawal restrictions on PMC Bank which has deposits of around ₹11,800 crore. As a percentage of the deposit insurance fund, these deposits are about 13.9 per cent, the RBI said.

Source: Mint December 29, 2019 09:45 UTC