Goemkarponn desk
Panaji:
RBI has granted in-principal approval to release first installment of Rs 7.05 crore to small depositors of the liquidated Mapusa Urban Bank after a very long wait. In a letter dated Feb 1, RBI’s Deposit Insurance and Credit Guarantee Corporation(DICGC) has granted in-principal approval to settle claims of 45,268 depositors of the bank who have single account and whose deposit balance does not exceed Rs 10,000 as on the cut-off date of April 16,2020. The total amount to be released from liquid funds is to the tune of Rs 7.05 crore. This is hardly 2.6 % of the total claims of Rs 262.06 crores made by the depositors of the liquidated bank .DICGC has observed in its letter that there were delays in submission of claims due to non-completion of statutory audit to confirm the balances till the last week of Dec 2020. When it shut down the bank had 24 branches in Goa with head office in Mapusa , 193 staff members in all, 1.19 lakh shareholders and 2.48 lakh depositors . RBI had cancelled the banks banking license in April 2020.