This comes after the close of the bank's business on Thurs3, 2025. The restrictions would continue for a six month period, subject to review.

Account holders in thousands gathered outside Mumbai-headquartered New India Co-operative Bank Limited branches to withdraw their hard-earned savings, soon after the Reserve Bank of India put several restrictions on the lender.

The Reserve Bank of India (RBI) has imposed stringent restrictions on New India Co-operative Bank Limited, Mumbai, citing serious financial concerns. As per ANI, the central bank has barred the lender from undertaking key financial activities without prior approval,

People gathered outside the New India Co-operative Bank after the RBI issued a notice to halt all business on 14.Seema Waghmare, a customer of the New India Co-operative Bank, said, "We deposited money just yesterday,

India's banking sector is facing fresh turbulence as the Reserve Bank of India has imposed strict restrictions on Mumbai-based New India Cooperative Bank due to liquidity concerns. Watch in for more details!

New India Co-operative Bank has been barred from accepting or allowing withdrawals of funds by depositors and the restrictions would remain in force for a period of six months and are subject to review.

The RBI imposed an immediate restriction on all businesses for the New India Co-operative Bank due to irregularities in lending practices