Millennium Post

DICGC sees Rs 14,100-cr claims amid PMC crisis

Mumbai: The Deposit Insurance and Credit Guarantee Corporation has received a total claim of about Rs 14,100 crore in case of defaulting co-operative banks amid massive scam at the now-crippled Punjab & Maharashtra Cooperative Bank, according to the RBI.

However, the regulator, the Financial Stability Report said, was quick to add that all the claims may not materialise at the same time and some may even revive.

The extent of devolvement on the Deposit Insurance and Credit Guarantee Corporation (DICGC) in the event of all the banks "under direction" or weak banks going into liquidation or ordered to be wound up, would be Rs 14,098 crore as of September-end, said the RBI's Financial Stability Report released recently.

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