Regulator RBI has increased the withdrawal limits of two UCBs currently under Direction. They are Kolhapur based Youth Development Cooperative Bank and Pathankot based Hindu Cooperative Bank Limited.
Youth Development Cooperative Bank Limited, Kolhapur, Maharashtra was placed under Direction on January 05, 2019. The withdrawal limit per depositor was Rs 5000/. On a review of the bank’s liquidity position and its ability to pay the depositors, it has been decided to enhance the limit for withdrawal to Rs 20,000/.
Similarly, Hindu Cooperative Bank Limited, Pathankot, Punjab was placed under All-Inclusive Directions on March 25, 2019. The withdrawal limit was Rs 4000/. It has been enhanced to Rs 50,000/, inclusive of Rs 25,000 allowed earlier.
All other terms and conditions of the Directives under reference as modified from time to time shall remain unchanged.
