RBI supersedes Board of New India Co-operative Bank

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. The action,
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 Restricts New India Cooperative Bank Businesses. Here's What Customers Must Do Now
These directions came into effect on from the close of business on Thursday and are expected to remain in force for a period of six months, subject to review.
RBI supersedes New India Co-operative Bank Board for 12 months, appoints administrator
The RBI has superseded the Board of Directors of the Bank for 12 months. It has appointed Shreekant, former Chief General Manager (CGM) of SBI, as the Administrator to manage the bank’s affairs during the period.
RBI clamps curbs on New India Co-operative Bank, depositors queue up outside branches
This is the first major action against a co-operative bank in Maharashtra after the collapse of Punjab and Maharashtra Co-operative Bank due to large scale fraudulent loans.
EOW begins investigation in New India Cooperative Bank `irregularities`
Mumbai Police’s Economic Offense Wing (EOW) has launched an investigation into the alleged `irregularities` at New India Cooperative Bank, official sources said on Friday. A bank representative filed a complaint with the EOW,
RBI supersedes New India Co-operative Bank board for 12 months after imposing restrictions over lending irregularities
A day after imposing several restrictions on city-based New India Co-operative Bank, the RBI on Friday superseded its board citing poor governance standards. A large number of bank's customers had gathered at its branches on Friday following RBI's restrictions,
Panicky customers flock to New India Co-operative Bank branches after RBI restrictions
Account holders in thousands gathered outside Mumbai-headquartered New India Co-operative Bank Limited branches to withdraw their hard-earned savings, soon after the Reserve Bank of India put several restrictions on 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.
People gather outside New India Co-operative Bank after RBI issues notice to halt all business
People gathered outside the New India Co-operative Bank after the RBI issued a notice to halt all business on 14.Seema Waghmare, a customer of the New India Co-operative Bank, said, "We deposited money just yesterday,
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