The Reserve Bank of India has imposed severe restrictions on Mumbai's New India Co - operative Bank due to detected irregularities. Now the customers of this are unable to withdraw funds,... The Reserve Bank of India (RBI) has imposed strict restrictions on Mumbai-based New India Co - operative Bank Limited, preventing it from issuing new loans, accepting fresh deposits, or allowing withdrawals for the next six months. The RBI has imposed six-month curbs on the Mumbai-based bank due to financial stability and liquidity concerns. Depositors cannot withdraw funds and the bank cannot issue loans, accept deposits, or sell assets without prior approval. The Reserve Bank of India (RBI) has imposed restrictions on New India Co-operative Bank due to supervisory concerns. The bank is not allowed to grant or renew any loans, accept fresh deposits, or withdraw any funds for six months.
