PANAJI
Reserve Bank of India (RBI) has sanctioned an additional Rs 73 crore for disbursal to Mapusa Urban Co-operative Bank depositors who have deposited above Rs 5 lakh in the liquidated bank.
With this third installment, the total amount sanctioned by Deposit Insurance & Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI, for disbursal to MUCB depositors has reached Rs 229 crore.
On February 1, DICGC approved the release of Rs 7.05 cr from MUCB’s liquid funds to repay 45,262 depositors. A further approval for Rs 149.35 crore to be released to 12,977 claimants was granted on March 4.
RBI has also given relief to terminated staff by sanctioning their gratuity and other terminal benefits. The retrenched employees had earlier given a strike notice.
