RBI restrictions on New India Co-op 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.
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.
RBI supersedes Board of New India Co-operative Bank; customers in distress
The Reserve Bank of India (RBI) has superseded the Board of Directors of New India Co-operative Bank for 12 months, citing poor governance standards.
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.
New India Co-operative Bank fraud: Mumbai Police register FIR against ex GM for siphoning ₹122 crore amid RBI curbs
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 122 crore
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 restricts New India Co-operative Bank, freezes customer withdrawals
Reserve Bank of India (RBI) imposes restrictions on New India Co-operative Bank, limiting operations and withdrawals.
RBI restricts New India Co-operative Bank over Rs 122 crore fraud
The Reserve Bank of India has enforced restrictions on New India Co-operative Bank after allegations of a ₹122 crore fraud emerged, marking significant regulatory action against financial misconduct.
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.
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