Categories: Business

Over 99% of CKP bank depositors will get full money: RBI


new Delhi. The Reserve Bank on Sunday said that more than 99 percent of depositors of the closed CKP Co-operative Bank will get their full money from the 'Deposit Insurance and Credit Guarantee Corporation'. The Reserve Bank of India canceled the license of CKP Bank on Saturday. This clarification by the central bank is expected to allay fears of 1.32 lakh depositors of CKP bank. Yogesh Dayal, chief general manager of RBI's communications department, tweeted that out of 1,32,170 depositors of the bank, about 99.2 percent would get full payment of their deposits from DICGC.

He said that the bank had ceased its activities since 2014. As there was no scope to revive it, it was decided to cancel its license. According to the CKP bank website, it has a total deposit of Rs 485.56 crore, debt of Rs 161.17 crore and a negative net worth of Rs 239.18 crore.

This post was published on May 3, 2020 11:08 pm

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