India, Cooperative Bank

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. The action,
New India Co-op Bank GM arrested for Rs 122 crore fraud
Mumbai police arrested Hitesh Mehta, GM and head of accounts at New India Cooperative Bank, for allegedly embezzling Rs 122 crore.
RBI supersedes New India Cooperative Bank board for 12 months
Reserve Bank of India superseded the Board of Directors of New India Cooperative Bank Ltd, Mumbai, for a period of 12 months, the central bank said in a statement on Friday, a day after it imposed several restrictions on the lender.
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 arrest ex-GM of New India Cooperative Bank in Rs 122 crore fraud case
Hitesh Mehta, the former 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.
Troubles at New India Coop Bank: Case filed against former General Manager for embezzlement
A day after the the Reserve Bank of India superseded the board of the New India Cooperative Bank, Mumbai Police have registered a case against the bank's former general manager for allegedly siphoning off Rs 122 crore from the bank. The case has now been transferred to the Economic Offences Wing.
Former New India Cooperative Bank GM arrested by EOW
Hitesh Mehta was on Saturday evening arrested by the Economic Offences Wing (EOW) of Mumbai Police, the officials said. Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai,
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,
RBI restrictions on New India Co-op Bank: Angry customer asks questions
As the RBI`s restrictions on the New India Cooperative Bank entered its second day, angry customers gathered outside multiple bank branches in parts of Mumbai, grappling with uncertainty over their finances are trying to seek answers to their questions.
State Bank of India sees sector's personal loan woes easing on tighter credit rules
State Bank of India (SBI) , the country's top lender by assets, expects the industry's concerns over retail borrowers ...
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Mumbai's EOW summons ex-bank general manager Hitesh Mehta over Rs 122 crore fraud
The Economic Offences Wing (EOW) has summoned Hitesh Pravinchand Mehta, the former General Manager of New India Co-operative ...
New India Co-operative Bank Row: EOW Arrests Former GM Hitesh Mehta For Alleged ₹122 Crore Fraud
The police suspect that Hitesh Mehta and another unidentified individual were involved in orchestrating the fraud.
State Bank of India falls Friday, underperforms market
State Bank of India closed 20.84% below its 52-week high of 912.10 rupees, which the company achieved on June 3rd.
The State of Credit: Exploring opportunities, challenges, and the future of digital lending in India
Digital lending is reshaping credit access across India, with projected disbursements reaching ₹47.4 trillion by FY26. Mint’s ...
Mumbai: Retired SBI Couple Duped Of ₹6.74 Lakh By Scammer Posing As Bank Manager; Case Registered
Mumbai: A couple, both retirees from the State Bank of India, lost Rs 6.74 lakh to a scammer, who posed as a bank manager and ...
State Bank of India falls Tuesday, still outperforms market
State Bank of India closed 19.86% below its 52-week high of 912.10 rupees, which the company achieved on June 3rd.
Three state-owned banks may sell shares to meet public shareholding norms: Report
As per Securities and Exchange Board of India (Sebi) regulations, all listed companies must maintain at least 25 percent ...