RBI imposed restriction on 5 Cooperative Banks

Customers of HCBL Co-operative Bank, Lucknow (Uttar Pradesh); Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad (Maharashtra); and Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District in Karnataka cannot withdraw funds from their accounts due to present liquidity position of the three lenders.

However, customers of Uravakonda Co-operative Town Bank, Uravakonda, (Anantapur District, Andhra Pradesh) and Shankarrao Mohite Patil Sahakari Bank, Akluj (Maharashtra) can withdraw up to Rs 5,000.

The eligible depositors of all the five cooperative banks would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation. 

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