Alarm note for depositors in Cooperative Banks #RBI in a bid to - TopicsExpress

Alarm note for depositors in Cooperative Banks #RBI in a bid to encourage strong banks to takeover ailing cooperative banks has said in its latest circular that the big depositors holding deposit in excess of Rs 1 lack each will be required to sacrifice in proportion to the deposit erosion of the target bank because Rs 1 lack is covered by DIGC .TIMES OF India . September 5 issue . It may be mentioned that since 2001 four cooperative banks namely M Mercentile ,South Indian coop Bank , Memon coop Bank and Vasco coperative Banks have merged with commercial Banks and four others are sick and on pipeline .

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