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the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn…,” it added.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

Caller’s name to flash on phone screen as...

May 21, 2022

Jet Airways gets DGCA nod to fly again...

May 21, 2022

People digging coal in an opencast mine in...

May 20, 2022

Air India plane engine shuts mid-air, close call...

May 20, 2022

Bankers to go on strike from May 30

May 20, 2022

Video: Girl dies after her burqa got stuck...

May 19, 2022

34 years later SC sentenced one year in...

May 19, 2022

LPG cylinder price hike, domestic cylinder by Rs...

May 19, 2022

Now you can book Matheran tickets via Indian...

May 17, 2022

Flight tickets to get expensive as jet fuel...

May 16, 2022

Trending News

  • RTMNU exam in MCQ format off-line mode

    May 20, 2022
  • Umran Malik becomes youngest bowler to take 20 wickets in an IPL

    May 19, 2022
  • Mini MBA course in just one rupee, know how

    May 17, 2022
  • Know how to block spam calls on iPhone

    May 16, 2022
  • India reeling under 50°Celsius is a matter of concern

    May 16, 2022

Important Links

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

Available on Playstore & Coming Soon on Appstore

Search

November 2021
M T W T F S S
« Oct   Dec »
1234567
891011121314
15161718192021
22232425262728
2930  

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
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.