RBI weighs some relief for New India Co-op Bank depositors: Report

Quick Summary:

The RBI, along with the lender's administrator, will require depositors to prove the emergency, one of the sources said.

Punjab and Maharashtra Co-operative Bank was placed under restrictions in 2019 after the RBI found financial irregularities.

The bank had outstanding deposits of 24.36 billion rupees as of March 31, 2024, and advances of 11.75 billion rupees.

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Category: BusinessFinance

Markets: India

Topics: New India Co-operative Bank Siddhi Nayak Tum Bin Jaaoon Kahaan Films Administrator Deposit insurance limit Punjab and maharashtra co-operative bank Khushi Official Corporate Banks Deposit insurance coverage Mumbai Co-operative Maharashtra Co-operative Bank Uttam Agami Khushi Malhotra Deposit insurance Bank Punjab Banks (NEC) The reserve bank of india Unity Small Finance Bank Reserve Bank of India

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-20 @ 23:27:51 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 502 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 26302419

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