NEWS & ADVICE : SAVINGS ACCOUNTS
RBI asked for Ease of norms pertaining to Amanath Bank withdrawals
By Vaibhav Aggarwal
Nov 27, 2013
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4. RBI asked for Ease of norms pertaining to Amanath Bank withdrawals By December 9 the Reserve Bank of India has been directed by the High Court of Karnataka regarding the withdrawal restrictions of deposits can be eased by permitting withdrawals which are higher by the Amanath Cooperative Bank (ACB) depositors.

Pertaining to various issues of the petitions made, which were addressed during the hearing, the direction was issued by Justice A.S. Bopanna.

The court likewise also requested from the advice C.k. Jaffer Sharief , the previous Union Minister and others if they are ready to store Rs. 430 crore to show their intentions in their case to pump subsidizes into the bank to enhance its budgetary status.

While looking for a test by the Central Bureau of Investigation (CBI) into the issues of ACB, there were addressed raised in regards to the determination made by the directorate of the bank for merger of Canara Bank and Amanath Cooperative Bank (ACB)


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