RBI restrictions on New India Co-op Bank

RBI restrictions on New India Co-op Bank: ‘All our savings stuck in this bank’
Panic gripped customers of New India Co-operative Bank after the Reserve Bank of India (RBI) imposed severe restrictions on withdrawals for six months due to concerns over the bank’s financial stability.
Explained: Why RBI has imposed curbs on New India Co-operative Bank
The Reserve Bank of India (RBI) has imposed strict restrictions on Mumbai-based New India Co-operative Bank, barring it from issuing new loans, accepting fresh deposits, or allowing withdrawals for six months.
RBI supersedes New India Co-operative Bank board for 12 months after imposing restrictions over lending irregularities
RBI’s action was necessitated due to certain material concerns emanating from poor governance standards observed in the Mumbai-headquartered New India Co-operative Bank.
Mumbai police book GM of New India Cooperative Bank in Rs 122 crore fraud case days after RBI imposes curbs
Hitesh Mehta, the general manager of New India Cooperative Bank, has been accused of hatching a criminal conspiracy and embezzling about Rs 122 crore along with an accomplice.
India's central bank supersedes board of New India Co-operative Bank
India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender.
Spooked by RBI ban, New India Co-op Bank customers throng branches
All requests for withdrawal of funds were turned down, with banners at branch gates saying deposits would be paid back in around 90 days
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
The Reserve Bank of India (RBI) on Friday took control of the board of Mumbai-based New India Cooperative Bank for a year and appointed former SBI chief general manager Shreekant as the administrator to oversee its operations,
India's RBI to enhance liquidity next week to cover for tax outflows
The Reserve Bank of India will step up its liquidity infusion and inject over $16 billion next week into the banking system, ...
RBI freezes New India Cooperative Bank deposits after missing funds complaint; assures safety of deposits up to Rs 5 lakh
More than a lakh depositors and cooperative housing societies are affected as New India Cooperative Bank is put under ...
Case filed against New India Cooperative Bank's general manager, associates for embezzling Rs 122 crore
Mumbai police have filed a case against the New India Cooperative Bank's General Manager and Head of Accounts for embezzling Rs 122 crore. The case, now with the Economic Offences Wing, involves ...
India's RBI lifts ban on Kotak issuing credit cards, enrolling clients digitally
The Reserve Bank of India said on Wednesday that it had lifted its 10-month-old order barring Kotak Mahindra Bank from ...
FIR against New India Cooperative Bank GM in Rs 122 crore financial fraud
Two days after the Reserve Bank of India (RBI) imposed restrictions on the operations of New India Cooperative Bank, a First ...
Alleged misappropriation of funds by staff at New India Co-operative likely reason behind RBI action
On February 13, the RBI had restricted New India Co-operative bank from doing fresh business and accepting deposits, citing ...
India’s Inflation Decline Signals More Rate Cuts Ahead
The sharp fall in India’s headline consumer price inflation in January vindicates last week’s rate cut by the Reserve Bank of ...
Why is Reserve Bank of India buying so much gold, why is India storing tonnes of gold? Is Modi govt preparing for some crisis?
According to the report by the World Gold Council, the Reserve Bank of India (RBI) purchased an additional 8 tons of gold in ...