United Western Bank - Moratorium Order on the Bank

United Western Bank Ltd has announced that the Central Government U/s 45 of Banking Regulation Act, 1949 has issued Order of Moratorium in respect of the Bank for the period 14.00 hours on September 02, 2006 upto and inclusive of December 01, 2006.

As a consequence of this order certain restrictions as mentioned in the said order have been imposed on the Banking Operations of the Bank and depositors of the Bank will be entitled to withdraw a sum not exceeding Rs 10,000/- of the total balance lying to the credit of all deposit accounts of a customer.

Source : Equity Bulls

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