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Vasavi depositors can withdraw Rs. 20,000

By Our Staff Reporter

HYDERABAD, NOV.6. The Reserve Bank of India (RBI) has accorded permission to the Vasavi Cooperative Urban Bank Ltd., authorities to allow its depositors to withdraw amount not exceeding Rs. 20,000, according to the Commissioner for Co-operation and Registrar of Cooperative Societies.

A RBI directive said that the depositors could be allowed to withdraw the specified amount from the total balance in every savings, current or other deposit account by the depositor. However if such depositors were found to be having liability to the bank in any manner, either as a borrower or surety, the amount could be adjusted first to the relevant borrower account.

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