Ashoke Solanki
The RBI has cancelled the license of Vaishali Urban Cooperative Bank in Jaipur, Rajasthan. Registrar of cooperative societies Pawan Kumar Goyal has directed the bank to stop all its banking operations.
Deputy Registrar has been tasked with completing the whole process as desired by the apex bank.
According to Mr Goyal, when the RBI inspection and cooperation dept carried out investigation under article 55 of the cooperative Act, irregular and fraudulent transactions came to light.
Mr Goyal added Deputy Registrar is already calculating the costs of assets and liabilities for settlement of claims. Deputy Registrar has also been asked to take necessary legal action against the erring members of the board.
In this light what action is to be taken by A/C holder to claim their deposits?
1 Where we can submit our claim.
2 How much time will take to settle our claim
I C Naik
Your Claim up to 100,000 will be entertained without your claiming it. So await communication from Dy Registrar. Time limit is a guess but one year is the upper limit.