The Deposit Insurance and Credit Guarantee Corporation (DICGC) has announced that eligible depositors of Mogaveera Co-operative Bank Ltd., Mumbai, which came under All-Inclusive Directions (AID) on June 12, 2026, will receive their insured deposits from September 10, 2026.
Depositors must submit their insurance claims, along with valid identity documents, a willingness declaration, and alternate bank account details, to the bank by July 27, 2026.
DICGC will settle claims up to Rs 5 lakh per depositor, subject to eligibility and submission of the depositor list by the bank as per statutory requirements.
The payout will be credited directly to the depositor’s alternate bank account or, with consent, to their Aadhaar-linked bank account.
DICGC has advised depositors to complete the claim process within the stipulated timeline to ensure timely receipt of insured deposits.