- The restrictions are imposed because of the lender's present liquidity position.
- The restrictions will remain in power for a six months period, with an effect from 10th Feb 2021.
- The bank is restricted from: To grant a loan or to renew the loan, make an investment, disburse of payment, signing agreements, acceptance of fresh deposits and incur any liability.
- No amount from the total balance across all savings or current accounts or any other account of a depositor is allowed to be withdrawn.
- Also, RBI announced that the Customer Interest is protected.
- The 99.89% of the depositors are fully covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance scheme. So as per this scheme, a depositor in a bank can receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from the DICGC.
- Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das
- HQ of DICGC: Mumbai
- Chairman of DICGC: Michael Debabrata Patra
