DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.
There have been numerous recent cases of lenders, especially cooperative banks, being unable to fulfil their obligations towards the depositors despite monitoring by the union government and RBI.
The PMC Bank has been put under restrictions, including limiting withdrawals, by the RBI, following the unearthing of a Rs 4,355-crore scam.
Paving the way for takeover of the crisis-ridden bank, the RBI had earlier in the month granted in-principle approval to Centrum Financial Services to set up a small finance bank (SFB).
Both Centrum Financial Services Limited and BharatPe, who will be equal partners of the proposed bank, will infuse combined capital of Rs.900 crore in the first year of operation.
Petitioner Sayed claimed that the Wadhawans have been getting admitted to hospital from time to time since their arrest by the Enforcement Directorate in 2019.