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Workshop for the liquidators of the UCBs in Andhra Pradesh and Telangana

DICGC, Mumbai organised a workshop for the liquidators on August 14, 2014 at RBI Hyderabad. About 19 Liquidators of the 35 urban co-operative banks (UCBs) which are under liquidation had participated in the workshop. The objective of the workshop was to highlight the issues, concerns of DICGC, the role and responsibilities of the liquidators. The main issues discussed with the liquidators related to refund of undisbursed amount lying with them, repayment of dues of the corporation through recovery of the assets of the failed banks, payment made above Rs.one lakh to the depositors by some liquidators, non-submission of balance confirmation certificates, non-submission / delay in submission of quarterly statements and discrepancies therein.

Shri K.R.Das, Regional Director welcomed the participants and flagged the objectives of the workshop. He stated that the workshop was aimed to sensitise the liquidators regarding their responsibilities which will ultimately benefit the small depositors for getting effective services. He also explained the importance of the role played by DICGC in case of bank failures.

Shri Jasbir Singh, Executive Director, DICGC in his inaugural address, emphasised on the joint responsibility of DICGC and liquidators towards small depositors by ensuring timely disbursement of the insured sum upto Rs. one lakh. He also emphasised the role and responsibilities of the liquidators and advised the liquidators to cooperate in addressing the issues concerned. In this context he requested the Liquidators to ensure to disburse the claim amount given by the DICGC to the respective depositors within the stipulated time period of four months and thereafter refund the undisbursed amount to DICGC. He further stated the liquidators can submit the supplementary claims along with full particulars afterwards and the DICGC will settle the same by remitting/crediting the amount to the concerned depositors account within the earliest possible time. He also requested the liquidators to make efforts to realise the amounts from the assets of the failed banks and arrange to repay the dues of th e Corporat ion.

Shri D. Sethi,GM, DICGC gave a small presentation on the role of the liquidators and expectations of DICGC from them. He sought support from them for early refund of the undisbursed amount lying with them as well as repayment of dues of the Corporation out of the recoveries made from the failed banks' assets.

The workshop was well received by the participants.

 

Shri Jasbir Singh,Executive Director addressing the liquidators at the workshop.