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.
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.
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.
New India Co-Operative Bank General Manager Booked For 'Stealing' Rs 122 Cr From Treasury
The RBI on Thursday imposed several restrictions on the city-based bank, including on withdrawal of funds by depositors, amid supervisory concerns.
New India Co-operative Bank fraud: Ex-GM booked for allegedly siphoning Rs 122 crore
Police suspect Mehta had an accomplice, and the case has now been transferred to the Economic Offences Wing (EOW) for further investigation.
RBI Halts Key Operations of New India Co-operative Bank, Supersedes Board—Here’s Why
However, RBI stated that the bank is allowed to set off loans against deposits subject to the conditions stated in the directions
RBI supersedes New India Cooperative Bank board; appoints administrator
The RBI has replaced the board of New India Cooperative Bank, appointing Shreekant as Administrator for 12 months. Restrictions have been imposed on loan issuance and withdrawals due to governance issues and liquidity concerns.
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,
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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 ...
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 ...
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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 ...
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RBI penalises Nainital Bank and Ujjivan SFB for regulatory violations
RBI clarified that these penalties were imposed solely for regulatory lapses and do not affect the validity of any ...