The Hindu Cooperative Bank will give its verdict on Friday in Pathankot on the restrictions imposed by the Reserve Bank on withdrawals from the accounts of the Reserve Bank account holders.
If the recovery made by RBI Bank is considered positive by the bank To remove restrictions If it decides, it will clear the way for the account holders to withdraw money. The eyes of 80,000 bank account holders are fixed on the RBI’s decision. Under the OTS (One Time Settlement) Scheme launched from March to June this year, following the restrictions imposed by the Reserve Bank, the Bank has recovered Rs.21.23 crore and since the imposition of sanctions, a total of Rs.72.37 crore has been recovered. . Since then, the bank has achieved a benchmark of more than 9 per cent, the report of which the bank had sent to the RBI to allow the account holders to withdraw money.
The RBI is scheduled to take its decision on September 24. Meanwhile, the bank has also issued a notice to the account holders seeking clarification on the incorporation of Section 18A in the Deposit Insurance and Credit Guarantee Corporation (DICGC). In this regard, the Administrator, Deputy Commissioner, Sanyam Agarwal has asked the bank account holders to fill up the deposit form of the depositors and submit it to the concerned branches by September 30. The regulator has said that if the bank’s instructions are canceled by the RBI on September 24, the depositors’ claim forms will be rejected.