RBI imposes restrictions on five co-operative banks
[ad_1]
copy photo
google creative commons
The RBI said in separate statements that these restrictions would remain in effect for six months. Due to these restrictions, these banks cannot grant loans, make any investments, incur any new liabilities, and transfer or otherwise dispose of any of their assets without prior notice to the RBI. .
The Reserve Bank of India (RBI) on Friday imposed several restrictions, including on withdrawals, on five cooperative banks. RBI has taken this step in view of the deteriorating financial condition of these banks. The RBI said in separate statements that these restrictions would remain in effect for six months. Due to these restrictions, these banks cannot grant loans, make any investments, incur any new liabilities, and transfer or otherwise dispose of any of their assets without prior notice to the RBI. .
As per RBI, due to the current cash position of HCBL Sahakari Bank, Lucknow (Uttar Pradesh), Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad (Maharashtra) and Shimsha Sahakari Bank Regular, Maddur, Mandya (Karnataka), customers of these banks may withdraw Rs. Will not be able to withdraw. However, customers of Urvakonda Co-operative Municipal Bank, Urvakonda (Ananthapur district, Andhra Pradesh) and Shankarrao Mohite Patil Co-operative Bank, Akluj (Maharashtra) will be able to withdraw up to Rs 5,000. The RBI said that eligible depositors of the five cooperative banks will be entitled to receive deposit insurance claim amount up to Rs five lakh from the Deposit Insurance and Credit Guarantee Corporation.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
