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Sunday, May 23, 2004

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Money & Banking - Co-operatives


Charminar Bank gets Rs 123 cr

Our Bureau

HYDERABAD: The Reserve Bank of India has announced that its wholly-owned subsidiary, Deposit Insurance and Credit Guarantee Corporation (DICGC), has released deposit insurance claims of Rs 123.15 crore in favour of depositors of the Hyderabad-based Charminar Co-operative Urban Bank Ltd.

In a press release here, the Urban Banks Division of the apex bank said Charminar Bank had lodged total claims of Rs 146.31 crore for all its eligible depositors.

Stating that Rs 123.15 crore was released in three instalments to Charminar Bank for paying the genuine claims of depositors, the apex bank suggested the depositors whose claims were yet to be settled to approach the urban co-operative bank.

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