RBI supersedes Board of New India Co-operative Bank

India's central bank supersedes board of New India Co-operative Bank
India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender.
Explained: Why RBI has imposed curbs on New India Co-operative Bank
The Reserve Bank of India (RBI) has imposed strict restrictions on Mumbai-based New India Co-operative Bank, barring it from issuing new loans, accepting fresh deposits, or allowing withdrawals for six months.
India’s Central Bank Cuts Key Rate For the First Time Since 2020
Projects FY26 inflation at 4.2%, GDP growth at 6.7%
Factbox-India's central bank begins unwinding curbs on NBFCs and banks
The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions. High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth,
RBI supersedes New India Co-operative Bank Board for 12 months, appoints administrator
The RBI has superseded the Board of Directors of the Bank for 12 months. It has appointed Shreekant, former Chief General Manager (CGM) of SBI, as the Administrator to manage the bank’s affairs during the period.
New India Co-Operative Bank Case: From PMC Bank To Others, A Look Into Failures Of Co-Operative Lenders In The Past
The series of events leads us into a flashback of the cataclysmic failure of another co-operative bank, Punjab & Maharashtra Cooperative Bank or PMC bank. PMC Bank, which itself was merged with Unity Small Finance Bank, went bust in 2022, ensuing the play similar scenes, that are being witnessed today.
India's central bank boosts long-term liquidity infusion again
India's central bank on Wednesday surprised markets by announcing another liquidity infusion this week as it aims to inject funds in the banking system for the longer term. The Reserve Bank of India will conduct a 49-day variable rate repo for 750 billion rupees ($8.
New India Co-operative Bank crisis: RBI supersedes lender's board for 12 months
The Reserve Bank of India (RBI) on February 14 announced that it has superseded the board of directors of New India Co-operative Bank for a period of 12 months. This comes a day after the central bank barred the Mumbai-based bank from giving out new loans, accepting new deposits and more for a period of six months.
EOW begins investigation in New India Cooperative Bank `irregularities`
Mumbai Police’s Economic Offense Wing (EOW) has launched an investigation into the alleged `irregularities` at New India Cooperative Bank, official sources said on Friday. A bank representative filed a complaint with the EOW,
RBI supersedes New India Co-operative Bank board for 12 months after imposing restrictions over lending irregularities
A day after imposing several restrictions on city-based New India Co-operative Bank, the RBI on Friday superseded its board citing poor governance standards. A large number of bank's customers had gathered at its branches on Friday following RBI's restrictions,
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India's inflation cools to lower-than-expected 4.31% in January
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