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July 6, 2001
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Money > Business Headlines > Report July 6, 2001 |
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MMCB seeks a week's time from DICGCMadhavpura Mercantile Co-operative Bank has sought a week's time to answer the questions posed by the Depository Insurance and Credit Guarantee Corporation, which was to release Rs 4.64 billion towards the revival of the crisis-ridden bank. Chairman of Ahmedabad District Co-operative Bank, who was also a member of the revival committee of MMCB, had announced earlier that the Union finance ministry had given its nod to provide Rs 4.64 billion as deposit insurance of MMCB. The release of the money by the DICGC was the first step towards the revival of the MMCB. Shah said that DICGC had sent queries to the bank regarding a few joint accounts in which the names of the account holders were in different order. He also said there were queries regarding some accounts, which had no address of the account holders. Due to this there was confusion regarding the claims worth around Rs 320 million, he added. However, he assured that the bank would be revived at any cost. UNI ALSO READ:
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