A group of people claiming to represent the interests of account holders and depositors of Rupee Cooperative Bank has opposed the decision taken by the Deposit Insurance and Credit Guarantee Corporation (DICGC) to pay depositors of 21 stressed cooperative banks a sum of Rs 5 lakh within 90 days, report the FE.
Dhananjay Khanzode, one of the depositors of the Rupee Cooperative Bank, said that depositors should be given their entire amounts and not just Rs 5 lakh since they have been waiting for years for their money. He asked depositors to wait for a month since the decision of the Bombay High Court is still awaited.
Khandzode said that he would approach depositors of the other stressed banks as well to jointly tackle this issue.