cooperative banks

insurance fund: DICGC posts 17% growth in insurance fund

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insurance fund: DICGC posts 17% growth in insurance fund

Mumbai: The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), reported a 17% increase in its deposit insurance fund in FY24. The Deposit Insurance Fund (DIF), which is crucial for settling claims of depositors from liquidated or amalgamated banks, climbed to ₹1,98,310 crore as of March … Read more

Saraswat bank NPAs: ARCIL buys Saraswat’s NPAs at 86% haircut

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Saraswat bank NPAs: ARCIL buys Saraswat’s NPAs at 86% haircut

US-based Avenue Capital-backed Asset Reconstruction Company (India) (ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans … Read more