RBI restrictions on New India Co-op Bank

What led to the New India Co-operative Bank Crisis? Fraud and RBI Ban explained
In a major shocker, the Reserve Bank of India has imposed stringent restrictions on New India Co-operative Bank, leaving numerous depositors in turmoil. Significant financial irregularities are said to have unfolded behind closed doors that have led to the crisis.
RBI Imposes Restrictions On New India Co-operative Bank Over Rs 122 Crore Fraud
The Mumbai police have registered a case against the New India Cooperative Bank's General Manager and Head of Accounts along with his associates for allegedly embezzling Rs 122 crore of funds, officials said on Saturday.
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 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.
New India Co-operative Bank fraud case: How will the RBI crackdown impact account holders, depositers?
In its instructions against the bank, the RBI said,"It is hereby notified for information of the public that the RBI has issued certain Directio
RBI Restricts New India Cooperative Bank Businesses. Here's What Customers Must Do Now
These directions came into effect on from the close of business on Thursday and are expected to remain in force for a period of six months, subject to review.
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 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.
RBI restrictions on New India Co-op Bank: All your FAQs answered
The Reserve Bank of India (RBI) has imposed strict restrictions on New India Co-operative Bank Limited in Mumbai, citing supervisory concerns over its financial position. As per the restrictions which are effective from the close of business on 13 February 2025,
Panicky customers flock to New India Co-operative Bank branches after RBI restrictions
Account holders in thousands gathered outside Mumbai-headquartered New India Co-operative Bank Limited branches to withdraw their hard-earned savings, soon after the Reserve Bank of India put several restrictions on the lender.
People gather outside New India Co-operative Bank after RBI issues notice to halt all business
People gathered outside the New India Co-operative Bank after the RBI issued a notice to halt all business on 14.Seema Waghmare, a customer of the New India Co-operative Bank, said, "We deposited money just yesterday,
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, ...
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 ...
devdiscourse3h
EOW Investigates Rs122 Crore Fraud at New India Co-operative Bank
The Economic Offences Wing (EOW) is investigating a Rs122 crore fraud involving Hitesh Pravinchand Mehta, former General ...
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 ...
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 ...
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 ...
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 ...
Rupee's two-day RBI-driven surge peters out despite rally in regional peers
The Indian rupee ended little changed on Thursday, wedged between gains in regional peers and importers' dollar demand, in a ...