RBI restrictions on New India Co-op Bank

New India Co-op Bank: RBI uncovers massive fraud of Rs 122 crore; know what’s the case
The RBI conducted an audit at the New India Co-op Bank’s head office in Prabhadevi and Goregaon branch. Probing officials discovered a discrepancy of Rs 112 crore at the bank’s head office and another of Rs 10 crore at the Goregaon branch.
RBI Halts Key Operations of New India Co-operative Bank, Supersedes Board—Here’s Why
However, RBI stated that the bank is allowed to set off loans against deposits subject to the conditions stated in the directions
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,
Bank of India raises Rs 2,690 crore via infra bonds at 7.5 pc interest rate
Bank of India (BoI) on Saturday said that it has successfully raised Rs 2,690 crore through 10-year infrastructure bonds at an interest rate of 7.50 per cent.
EOW Investigates Rs122 Crore Fraud at New India Co-operative Bank
The Economic Offences Wing (EOW) is investigating a Rs122 crore fraud involving Hitesh Pravinchand Mehta, former General Manager of New India Co-operative Bank. Discrepancies in financial records led to a police probe,
New India cooperative bank under RBI lens
The economic offences wing of the Mumbai police has arrested Hitesh Mehta, the former general manager and head of accounts at New India Cooperative Bank, in a 122 crore rupees embezzlement case. The arrest comes just days after the Reserve Bank of India imposed strict restrictions on the bank over financial irregularities.
Former New India Cooperative Bank GM arrested by EOW
Hitesh Mehta was on Saturday evening arrested by the Economic Offences Wing (EOW) of Mumbai Police, the officials said. Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai,
Spooked by RBI ban, New India Co-op Bank customers throng branches
All requests for withdrawal of funds were turned down, with banners at branch gates saying deposits would be paid back in around 90 days
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
The Reserve Bank of India (RBI) on Friday took control of the board of Mumbai-based New India Cooperative Bank for a year and appointed former SBI chief general manager Shreekant as the administrator to oversee its operations,
RBI restrictions on New India Co-op Bank: Angry customer asks questions
As the RBI`s restrictions on the New India Cooperative Bank entered its second day, angry customers gathered outside multiple bank branches in parts of Mumbai, grappling with uncertainty over their finances are trying to seek answers to their questions.
RBIDATA: From finding nearest bank to tracking Indian economy, here's how RBI's new app will make your life easier
RBIDATA app from the Reserve Bank of India aims to help users access 11,000 different economic data sets to understand the ...
India mulls raising limit for bank deposit insurance, financial services secretary says
India is actively considering raising the bank deposit insurance coverage, a top official said on Monday, days after the ...
Why is Reserve Bank of India buying so much gold, why is India storing tonnes of gold? Is Modi govt preparing for some crisis?
According to the report by the World Gold Council, the Reserve Bank of India (RBI) purchased an additional 8 tons of gold in ...
devdiscourse1d
Karnataka Bank Seeks Reversal of Suspicious UPI Transaction
Karnataka Bank has requested the Reserve Bank of India to reverse a suspicious cross-border UPI transaction of Rs 18.87 crore ...
India’s new central bank chief joins Modi’s effort to regain lost growth
India's new central bank chief Sanjay Malhotra is likely to take a growth-supportive approach over the next few months, as he ...
India's central bank cuts rates for the first time in nearly five years, forecasts faster growth next year
The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has ...
Another bank in trouble: Depositors of New India Co-operative Bank can not withdraw their deposits; what lies ahead for them
Deposit holders of New India Co-operative Bank cannot withdraw money from their bank accounts with effect from February 13, ...
New India Co-op Bank scam: Tarring all co-op banks with the same brush not right, says DEA Seth
Co-operative Banks regulated by RBI, Secretary Seth emphasizes not to generalize due to one bank's deficiencies.