Andhra Pradesh - Others   

RBI relaxes orders on Chittoor Town Bank

Correspondent

CHITTOOR: The Reserve Bank of India has relaxed section 35A imposed on Chittoor Co-operative Town Bank and permitted payment of Rs. 5,000 to each depositor in addition to Rs. 6,000 already paid, said Dinesh Reddy, its president.

Talking to media persons here on Tuesday, he said at present there were 45,278 accounts of the depositors in the bank of which 27,849 accounts of the depositors would be closed with payment of Rs. 5000.

The payment of this amount would commence at the head office of Chittoor Co-operative Town bank and Darga branch from Wednesday 8.30 at a.m.

Each day, 100 depositors would be paid the amount. The depositors who had a deposit of Rs. 50 need not go to the bank.

The bank had been instructed by the RBI to settle deposits up to Rs. one lakhs against NPA loans.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Kalasa Yatra marks launch of Godavari Utsav
Child adoption not easy
Police campaign against sale of girls hailed
Jayaprada advocates Polavaram project
Two doctors penalised for negligence and causing harm to patients
Farmers urged to regularise power connections
Officials' eviction bid draws flak
Four burglars arrested; gold silver ornaments seized
Target fixed for next phase of land distribution
Man's body traced in riverbed
Vijayawada man falls victim to biscuit gang
RBI relaxes orders on Chittoor Town Bank
Farmers hold up weighing of cotton
Pyramid show by schoolchildren
New ration cards by Ugadi
Woman dies in accident

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu