RBI has banned the business of a cooperative bank of Ghazipur. Regarding which the customers have started an uproar. The bank cannot do banking business for 6 months.
RBI Action: Keeping in mind the safety of customers, Reserve Bank of India keeps taking strict steps. Recently the Central Bank has banned the business of a co-operative bank. But now the customers have started creating ruckus and have filed a case against the bank officials.
What is the matter?
In fact, on August 29, RBI had issued instructions to ban the transactions of Purvanchal Co-operative Bank located in Ghazipur. Banks are not allowed to provide loans, acquire new customers, borrow funds and invest without the consent of the central bank. However, RBI has also made it clear that this should not be considered as cancellation of banking license. The Central Bank may think again about its decision. There is a ban on bank business only for 6 months.
Customers can claim this much money
Under Section 18A of the DICGC Act 2021, customers will be entitled to receive deposits up to Rs 5 lakh. For further details, the customer may contact the officials of his bank. Apart from this, you can also visit the official website www.dicgc.org.in.
Customers created ruckus
According to media reports, around Rs 40 crore money of 30 thousand customers is stuck in the bank. Due to which the depositors are worried and till now they have demonstrated in front of the bank branch several times. Not only this, a case has been registered against Purvanchal Co-operative Bank Limited’s former CEO Vivek Pandey, former promoter Ram Babu Shandilya, Managing Committee Bank Proprietor, Auditor M/s Vijay K Sharma & Company and others in the city police station.
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