The police have arrested the general manager of the bank after recently revealed the Rs 122 crore scam in the New India Cooperative Bank. After which the Reserve Bank has also taken strict action on this bank. During this time, RBI has banned both deposits and withdrawal in the bank. Apart from this, the board of the bank has been suspended for 12 months. After which there has been a stir among the account holders of this bank about what will happen to their deposit. Today we will give you information about whether you can withdraw money from the account even after the bank is closed.

If a bank fails, how much money will you get?
Let us tell you that after the closure of New India Cooperative Bank, customers are worried about their deposits, which is also justified. However, in all this, the RBI says that those who have deposits up to Rs 10 lakh in the account will be allowed to withdraw up to Rs 5 lakh. This facility will be provided by the deposit insurance and loan guarantee corporation. At present, as per RBI instructions, bank customers are not allowed withdrawal. However, necessary facilities like salary, rent and electricity bills can be paid through the bank's UPI. But at present, the bank's payment app is also not working.

What does RBI rule say?
RBI rules say that in case of drowning of the bank, you will get a maximum of five lakh rupees. This claim is available under insurance. If you have deposited 2 lakh rupees in a bank and that bank becomes bankrupt, then you will get the entire amount back under insurance of 5 lakh rupees. But if you have a deposit of 7 lakh rupees in your account, then the maximum amount available under BIM is 5 lakh rupees, in such a situation you will suffer a loss of 2 lakh rupees directly. If you want to keep your money safe then deposit your money in different banks.