RBI weighs some relief for New India Co-op Bank depositors, sources say
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The RBI, along with the lender's administrator, will require depositors to prove the emergency, one of the sources said.
It will allow them to withdraw funds up to a deposit insurance limit of 500,000 rupees ($5,761.43), both the sources added. They did not want to be identified as they're not authorised to speak to media.
Under current rules, deposits of up to 500,000 rupees are insured in case a bank fails, and should be paid within 90 days.
The RBI did not immediately respond an email seeking comment.
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