The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Nation

RBI imposes restrictions on Malkapur Urban Co operative bank

by TLN Team November 24, 2021November 25, 2021
written by TLN Team November 24, 2021November 25, 2021
RBI imposes restrictions on Malkapur Urban Co operative bank

The RBI on Wednesday imposed several restrictions, including a Rs 10,000 cap on withdrawals, on Malkapur Urban Co operative Bank in Maharashtra due to deterioration in its financial position.

Malkapur Urban Co-operative Bank shall not without prior approval of the RBI renew any loans, make any investment, incur any liability, and disburse any payment, the Reserve Bank said in a statement.

“In particular, a sum not exceeding Rs 10,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn…,” it added.

The restrictions would remain in force for six months from the close of business on Wednesday.

The central bank, however, added that the issue of the directions to the co-operative banks should not per se be construed as a cancellation of banking license.

“The bank will continue to undertake banking business with restrictions till its financial position improves,” it said.

The Reserve Bank may consider modifications of these directions depending upon circumstances, the statement said.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
ST employees to get rise upto Rs 7200 in pay: Adv Parab
next post
Dhoni retained by CSK for next three IPL seasons

You may also like

DD news reader Gitanjali Iyer passes away

June 7, 2023

10 more IAS officers face transfers in Maharashtra

June 7, 2023

WHO report points out that 14 out of...

June 7, 2023

Matheran Toy Train derails, won’t run during monsoon

June 7, 2023

Kolhapur: Tension simmers after clashes between two groups...

June 7, 2023

Cyclonic storm Biparjoy likely to intensify in 24...

June 7, 2023

Maha govt signs MoU for 13,050 MW Hydro...

June 6, 2023

NCB makes India’s largest-ever drugs seizure worth Rs....

June 6, 2023

Police-directed chat helped Amruta Fadnavis get her extortionist...

June 6, 2023

IRCTC offers insurance for railways passengers; check here...

June 6, 2023

Trending News

  • With 29% rise, Maharashtra attracts highest FDI

    June 7, 2023
  • Cricket fever on! Will rain spoilsport Ind vs Aus mega clash?

    June 7, 2023
  • Apple launches the thinnest MacBook Air with 18-hour battery life.

    June 6, 2023
  • Coromandel express accident: Train derailment in Odisha leaves over 200 dead, 900 injured

    June 3, 2023
  • Block spam calls using this step-by-step process

    June 2, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.