RBI supersedes Board of New India Co-operative 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,
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 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.
RBI clamps curbs on New India Co-operative Bank, depositors queue up outside branches
This is the first major action against a co-operative bank in Maharashtra after the collapse of Punjab and Maharashtra Co-operative Bank due to large scale fraudulent loans.
RBI curbs on New India Co-operative Bank: What next for depositors?
The RBI has said depositors cannot withdraw funds from their savings, current or any other account in the six-month period when the restrictions will remain in place
RBI supersedes board of Mumbai-based New India Co-op Bank
A day after imposing several restrictions on Mumbai-based New India Co-operative Bank, the Reserve Bank of India (RBI) on Friday superseded its board citing poor governance standards, news agency PTI reported.
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New India Co-operative Bank ex-manager under probe for Rs 122-crore fraud: Cops
The RBI barred the Mumbai-based bank from issuing new loans, accepting fresh deposits, and suspended withdrawals for six ...
New India Co-operative Bank fraud: Ex-GM booked for allegedly siphoning Rs 122 crore
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Indian central bank approves Temasek unit to raise stake in AU Small Finance Bank
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Another bank in trouble: Depositors of New India Co-operative Bank can not withdraw their deposits; what lies ahead for them
Deposit holders of New India Co-operative Bank cannot withdraw money from their bank accounts with effect from February 13, ...
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EOW Takes GM Hitesh Mehta Into Custody As Investigation Deepens Into New India Cooperative Bank
The EOW team took Mehta into custody and reached the EOW office. The arrest took place after the authorities investigated the ...
Indian central bank hikes overnight fund infusion post heavy FX intervention
India's central bank hiked the quantum of funds that it intended to inject into the banking system through an overnight ...