Goa’s Madgaum Urban Cooperative Bank (MUCB) which is in the process of being liquidated has now to settle the claims of depositors, exceeding the Rs 5 lakh ceiling, reports The Goan.
Thousands of depositors of the crisis ridden Bank have already received their deposits to the tune of Rs 121 crore. However, a couple of hundreds of depositors have yet to receive their deposits.
Sources say the liquidator contemplates settling the remaining 700 claims received by the bank.
