RBI ban on Co-operative Bank: RBI has now banned another bank. If you also have an account in this bank then you will not be able to withdraw your money. Along with this, many other restrictions have also been imposed on the bank.
Reserve Bank of India: From time to time, strict steps have been taken against banks by the Reserve Bank. RBI has now banned another bank. If you also have an account in this bank then you will not be able to withdraw your money. The Reserve Bank of India (RBI) has imposed several restrictions on the Konark Urban Co-operative Bank based in Ulhasnagar, Maharashtra, including on withdrawal of money.
Let us tell you that these restrictions have been imposed in view of the poor financial conditions of the bank. RBI has said that the condition of the bank is not good, due to which the central bank has taken this step.
Customers will get Rs 5 lakh
These restrictions have been imposed on the bank in view of its poor financial condition. Eligible depositors will be entitled to receive deposit insurance claim amount up to Rs 5 lakh from their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
The bank will not be able to do all these things
The restrictions under Section 35A of the Banking Regulation Act, 1949 on Konark Urban Co-operative Bank have come into force from the close of business on April 23, 2024 (Tuesday). With the restrictions imposed the bank cannot sanction or renew any loans and advances without the permission of RBI. Along with this, one cannot make any investment, transfer any liability or dispose of any of his assets.
Customers will not be able to withdraw money
The central bank has said that keeping in view the current cash position of the bank, no amount may be allowed to be withdrawn from the total balance in all the savings accounts or current accounts or any other account of the depositor but to adjust the loan. is allowed.
Restrictions will continue until there is no improvement
RBI said that the ban on lenders should not be understood as cancellation of banking license. It said that the bank will continue to conduct banking operations with restrictions until its financial condition improves.
