Indian Express quotes RBI saying cooperative banks contributed just shy of a 7 percent during the fiscal FY 22 to the collection of deposit insurance premium of DICGC that extends insurance cover to depositors.
The aggregate of main claims and supplementary claims in respect of 16 urban co-operative banks amounted to Rs 1,225 crore. The claims settled in the case of 22 urban co-operative banks under All Inclusive Direction (AID) amounted to Rs 3,457.4 crore as of March 31, 2022.
Deposit insurance extended by the DICGC covers all commercial banks including 1,902 co-operative banks (33 StCBs, 352 DCCBs and 1517 UCBs).