City cooperative bank of lucknow is in liquidation in2006 ,what formula will be used to pay depositors their money
2006-10-25 06:54:07 · 2 answers · asked by sumanrastogi 1 in Business & Finance ➔ Investing
Unless the liquidation process is complete, it will be difficult to indicate the fomula. But the depositors will be one of the top priority.
The article referred below may be of interest to you:
http://mobile.timesofindia.indiatimes.com/articleshow/1455953.cms
2006-10-26 02:47:14 · answer #1 · answered by cvrk3 4 · 0⤊ 0⤋
Hi Suman..
Well it all depends upon the structure and NPA rate of the bank..
See first of all u need to no as to wheather the BANK has been TAKEN OVER by some nationalised or semi government bank...if that happens then no way that the deposits arent been given ..just it takes bit time maybe 3 months..
Else..if the NPA ie. NON PERFORMING ASSETS of the bank if above 5% then it would be bit tough for the depositor to get there money back becos what the depositors have deposited with the bank are in turn blocked as NPA's..so just try to get the details first for safer side..
TAKE CARE..BYE BYE
2006-10-29 05:24:13 · answer #2 · answered by lalit_jain123 2 · 0⤊ 0⤋