DICGC settles claims worth Rs8,516 crore in FY22

29 Dec 2022 , 08:42 AM

The Deposit Insurance and Credit Guarantee Corporation (DICGC) settled claims of Rs8,516.6 crore in the last financial year and bulk of them were from customers of the Punjab and Maharashtra Co-operative (PMC) Bank, the Reserve Bank said on Tuesday.

According to the PTI report, an amount of Rs3,791.6 crore was provided to Unity Small Finance Bank for making payment to the depositors of the erstwhile PMC Bank, the Reserve Bank of India (RBI) said in Trends and Progress in Banking Report for FY22.

The total settlement amount includes claims settled with respect to 22 urban cooperative banks under the ‘All Inclusive Directions (AID)’ amounting to Rs3,457.4 crore, the report said. Main claims and supplementary claims in respect of 15 UCBs amounting to Rs1,225 crore were also settled, it further said.

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