New India Cooperative Bank Update: There is good news for the depositors of New India Cooperative Bank. The Reserve Bank of India (RBI) has given permission to withdraw money from New India Co-operative Bank. The Reserve Bank of India has allowed Mumbai customers to withdraw up to Rs 25,000. Now the Jamakars of Mumbai will be able to withdraw up to Rs 25,000 from 27 February. Explain that RBI has imposed a limit of 25 thousand on every depositor.
RBI gave these instructions
Let us tell you that recently the Reserve Bank of India (RBI) has imposed several restrictions on the continuous loss-making New India Co-operative Bank. It also includes withdrawing money by depositors. Following the Reserve Bank’s directive, the ban on the closure of business on New India Co-operative Bank from February 13 became effective and will remain in force for the next six months. However, according to the new RBI order, customers from New India Co-operative Bank, Mumbai have been allowed to withdraw up to Rs 25,000 per deposit from February 27, 2025. The RBI said that deposits can use the bank branch as well as ATM channel for this win.
This is limit
The RBI said that with this exemption, more than 50 per cent of the total depositors would be able to withdraw their entire balance and the rest of the deposits will be able to withdraw up to Rs 25,000 from their deposit account. Earlier, the RBI had directed the bank not to allow any amount to the depositor’s savings bank or current account or any other account.
Explain that RBI imposed several sanctions on New India Cooperative Bank. In these, there was a ban on lending money from the bank, acceptance of new deposit and payment. Then on Friday, the RBI removed the bank’s board and took the bank operating. RBI appointed former State Bank of India officer Shrikanth as Administrator of New India Cooperative Bank, who will work for the next 12 months.