India: RBI imposes curbs on another bank, Ahmednagar
Mumbai, Dec 6 (PTI) The RBI on Monday imposed several restrictions on Nagar Urban Co-operative Bank Ltd, Ahmednagar, Maharashtra, including a cap of Rs 10,000 on withdrawals for customers in the wake of deterioration of its financial position.
The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months from the close of business on December 6, 2021 and are subject to review, the Reserve Bank said in a statement.
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