DICGC Action : Deposit insurance has come as a straw to hold on to for the depositors of New India Cooperative Bank. It will help the depositors to withdraw an amount of up to Rs 5 lakh at present.
New India Co-Operative Bank: The scam in New India Co-operative Bank has forced thousands of depositors to shed tears of blood. Some have got into trouble for their daughter’s marriage, while some are unable to withdraw money for treatment of a serious illness. Some are facing problems in paying their son’s school fees, while some are struggling to get food. The Reserve Bank has banned withdrawal of any amount, taking loan or depositing money from this bank for six months. In such a situation, people who had kept their entire savings in this bank are on the verge of ruin.
Deposit insurance will give a straw to the drowning
Amidst broken trust and fading hope, deposit insurance has brought a straw to the drowning for the depositors of New India Co-operative Bank. It will help the depositors to withdraw an amount of up to Rs 5 lakh at present. Every bank has to get its deposits insured with Reserve Bank’s subsidiary Deposit Insurance Credit Guarantee Cooperation i.e. DICGC. Bank customers can claim to withdraw up to five lakh rupees from this cooperation. They will get this amount within 90 days.
For this, one has to apply by visiting the DICGC website. Then the money will be paid after checking the customer’s claims and documents. To track the claim status, you can take the help of the claim indicator tracker by visiting this website. This tracker has been launched by DICGC. The tracker will tell you what is the status of your claim and what is going on in this process right now. Based on this, you will be able to estimate when you will receive this payment and accordingly you will be able to plan your needs.
You can withdraw five lakh rupees till May 14
The depositors of New India Cooperative Bank have also been allowed to withdraw Rs 5 lakh from DICGC till May 14. Under this, the deposits of 90 percent (1,30,000) of the bank’s depositors are fully insured. DICGC has said on its website that these depositors have to compulsorily submit their claim by March 30 and this amount will be deposited in their alternate bank account. About 68 percent of this deposit amount is in FD, while 28 percent is in savings account.