RBI restrictions on New India Co-op Bank

‘We have EMIs to pay’: New India Co-operative Bank customers gather in panic after RBI imposes restrictions
This comes after the close of the bank's business on Thurs3, 2025. The restrictions would continue for a six month period, subject to review.
New India Co-operative Bank's financial operations halted after notice from RBI
The Reserve Bank of India (RBI) has restricted Mumbai-based New India Co-operative Bank from issuing loans, accepting deposits, or permitting withdrawals for six months. The move comes amid concerns over the bank's financial health and liquidity.
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 supersedes New India Co-op Bank board after imposing biz restrictions
The Reserve Bank of India (RBI) on Friday superseded the board of Mumbai based New India Cooperative Bank for a period of twelve months, and appointed Shreekant, former chief general manager of State Bank of India (SBI) as administrator to manage the affairs of the bank during this period.
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
RBI has taken control of New India Cooperative Bank’s board for a year, appointing an administrator amid fund misuse allegations. Deposit withdrawals remain suspended for six months, with 90% of depositors insured.
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.
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imposing several restrictions on Mumbai-based New India Co-operative Bank, the Reserve Bank of India (RBI) on Friday superseded its board citing poor governance standards, news agency PTI reported.
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