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GTB's demat accounts, lockers to work as usual: RBI
Sunday, July 25 2004 17:21 Hrs (IST)

Mumbai: Setting at rest ambiguities on the scope of the three-month moratorium imposed on Global Trust Bank (GTB), the Reserve Bank of India (RBI) today (July 25, 2004) said demat accounts and safe deposit lockers of customers in the bank will operate as usual.

It also assured to make arrangements to provide adequate cash at GTB branches for permitted withdrawals.

RBI, said in a statement, that "the demat accounts and safe deposit lockers of customers will be allowed to be operated as usual".

Reiterating that the objective of the moratorium was to protect the interests and safety of funds of depositors, the central bank said it was taking necessary steps to ensure the return of normalcy.

"RBI stands by its assurance to meet any requirement of cash at the branches of the GTB for making permitted payments under the order of moratorium."

All branches of the private sector bank would continue to remain open during their normal working hours to help customers make withdrawals upto Rs 10000 permitted under the moratorium order.

RBI has also set up help-lines in Mumbai (022-22150768/ 24306785) and Hyderabad (040-23234324/55515565) to assist bank customers in case of difficulty, the release said.

PTI





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