As desired by the Supreme Court, NABARD has carried out the verification process of KYC details of accounts in Kolhapur District Cooperative Bank (KDCCB). Nabard officials say they will soon send the report to the apex court, reports Times of India.
The accounts with money deposited in the five days after demonetization are under the scanner. RBI had put restrictions on the district cooperatives in the country. India. Opposed to the RBI’s decision, the district cooperative went to the Supreme Court.
The court asked the RBI to accept old notes from account holders after formalities like KYC are done. Since then, NABARD has verified almost 1.5 lakh accounts.
KDCCB sources are quoted saying “NABARD has completed the verification of documents submitted earlier. Now the reports will be submitted to the RBI and they will take decision on old tender”.
