The Deposit Insurance and Credit Guarantee Corporation will pay a total claim of about Rs 14,100 crore in case of defaulting co-operative banks in the wake of scam at the PMC Bank, says an RBI take.
However, as per Financial Stability Report all the claims may not materialize at the same time.
The report released recently says ”The extent of devolvement on the Deposit Insurance and Credit Guarantee Corporation (DICGC) in the event of all the banks “under direction” or weak banks going into liquidation or ordered to be wound up, would be Rs 14,098 crore as of September-end”
RBI says the break-up of the claim with DICGC shows Rs 3,414 crore in the case of state cooperative banks and district central cooperative banks, and Rs 10,684 crore in the case of urban cooperative banks, including PMC Bank.