RBI News Update: From time to time, new rules are made by the Reserve Bank regarding banks and along with this, many types of instructions are also given to them. Now the Reserve Bank of India (RBI) has taken a big decision regarding another bank.
Reserve Bank of India: From time to time, new rules are made by the Reserve Bank regarding banks and along with this, many types of instructions are also given to them. Now the Reserve Bank of India (RBI) has taken a big decision regarding another bank. RBI has fixed the limit for withdrawing money from Co-operative Bank i.e. if you have an account with this bank then you can withdraw only Rs.
Decision taken considering the financial situation
Let us tell you that the Reserve Bank has taken this decision regarding the National Co-operative Bank located in Bengaluru. RBI has taken this decision keeping in view the financial condition of the bank. The National Co-operative Bank has 13 branches in Bengaluru, the capital of Karnataka.
Cannot issue new loans,
Along with this the bank cannot issue any new loan nor will it accept fresh deposits without the permission of the central bank. RBI has imposed business restrictions on the National Co-operative Bank for a period of 6 months from the close of business on 24 July 2023.
Can claim 5 lakhs
According to the information received from the Reserve Bank, the depositors of the bank can claim 5 lakh rupees in ‘Deposit Insurance and Credit Guarantee Corporation’ (Deposit Insurance and Credit Guarantee Corporation) under deposit insurance.
There may be a change in the decision
Apart from this, according to the circumstances, the Reserve Bank can change its decision. Along with this, can consider this decision. In May, this bank was fined citing violation of some rules. The Reserve Bank has said that the lender was charging fixed penal charges for shortfall in the minimum balance in the savings bank account instead of proportionate to the limit. Due to this, RBI had taken the action of penalty.
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