NEW YORK: The Reserve of India (RBI) would pay back nonresident Indian depositors of Bank of Credit and Commerce International (BCCI) as soon as in queries into the BCCI affairs are over, a top official has said.
RBI deputy governor A. Ghosh said depositors would get back their money with full interest after auditing and judicial proceeding into the BCCI affairs was complete.
The BCCI Bombay branch is reportedly holding an estimated 40 to 50 million dollars in NRI deposit. Many NRI depositors of the bank have expressed fear about losing interest on the deposits while Indian authorities complete their investigation.
Article extracted from this publication >> November 1, 1991
