As many as 13 cooperative banks failed in 2012-13, resulting in credit insurance company DICGC paying nearly Rs 160 crore to depositors.
Among the 13 cooperative banks, which failed to repay deposits to customers, nine are from Maharashtra, two from Gujarat and one each from Andhra Pradesh and Odisha.
Under the norms of Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), a maximum of Rs 1 lakh is paid to a depositor in case a bank goes insolvent.
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