As per RBI, a total claim of about Rs 14,100 crore has been received by the Deposit Insurance and Credit Guarantee Corporation (DICGC), in case of defaulting co-operative banks amid massive scam at the PMC Bank. However, RBI, in the Financial Stability Report, added that all the claims may not materialise at the same time and some may even revive. Co-operative banks have been under stress for long and the ongoing PMC Bank crisis, which involves a scam of Rs 6,500 crore that is 73% of its total assets of around Rs 9,000 crore, is related to a single entity, the bankrupt HDIL, which has been gaming the bank since 2008.
