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Mumbai: City Co-Operative Bank Depositors Receive Additional 15 Per Cent Payout Beyond ₹5 Lakh Insurance Cover

Depositors of the liquidated City Co-operative Bank with balances above Rs 5 lakh have begun receiving an additional 15% of their outstanding dues beyond the deposit insurance limit. The payout follows recovery efforts by the liquidator and sustained representations by the Mumbai Grahak Panchayat and City Investors Foundation, while legal proceedings for the remaining amounts continue.

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5.74 Lakh Consumer Cases Pending! Advocate Shirish V. Deshpande (MGP Chairman) Explains