Question
Under the RBI restrictions on Nagar Sahakari Bank,
depositors can claim a maximum of how much from the Deposit Insurance and Credit Guarantee Corporation (DICGC)?Solution
The eligible depositors will get deposit insurance claim amount of their deposits i.e. maximum Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC). RBI has also clarified that the restrictions imposed should not be construed as cancellation of the banking licence. The bank is allowed to incur expenditure on salaries of employees, rent, and electricity bills.
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