Pune: The liquidator of Rupee Co-operative Bank, Madhukant Garad, has called upon depositors to submit their claims for retrieving deposits up to ₹5 lakhs before the deadline of December 31, 2024. Depositors who have not yet filed claims can visit their nearest branch or the bank’s headquarters at Market Yard, Pune, to initiate the process.
Rupee Co-op Bank has been under liquidation since October 31, 2022. Previously, depositors who filed claims received their insured amounts, up to ₹5 lakhs, through the Deposit Insurance and Credit Guarantee Corporation (DICGC).
The liquidator has also provided alternative arrangements for those unable to visit a branch. Such depositors can send their completed applications via registered post to the bank’s headquarters. Necessary documents include:
KYC documents
Deposit receipts
Passbooks
A canceled cheque or updated bank account details for crediting the amount
Claim forms are available in the prescribed format on the bank’s official website (www.rupeebank.com). Depositors must download, fill out two copies of the form, and submit them along with the required documents either in person or through the postal service. The bank has published comprehensive guidelines on its website to assist depositors in this process.
New Liquidator Appointed
Rupee Bank’s previous liquidator, retired Regional Sugar Deputy Director Dhananjay Doiphode, tendered his resignation on September 25, 2024, citing a desire to be relieved of his responsibilities. His resignation was accepted, and Cooperative Commissioner Deepak Taware appointed retired Cooperative Deputy Registrar Madhukant Vinayak Garad as the new liquidator on November 29, 2024.
Garad has prior experience working with Rupee Bank, which is expected to be instrumental in efficiently completing the ongoing liquidation process.