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. The action,
RBI Imposes Restrictions On New India Co-operative Bank Over Rs 122 Crore Fraud
The Mumbai police have registered a case against the New India Cooperative Bank's General Manager and Head of Accounts along with his associates for allegedly embezzling Rs 122 crore of funds, officials said on Saturday.
RBI supersedes Board of New India Co-operative Bank; customers in distress
The Reserve Bank of India (RBI) has superseded the Board of Directors of New India Co-operative Bank for 12 months, citing poor governance standards.
RBI Halts Key Operations of New India Co-operative Bank, Supersedes Board—Here’s Why
However, RBI stated that the bank is allowed to set off loans against deposits subject to the conditions stated in the directions
Mumbai Police arrest New India Co-op Bank executive in ₹122 crore embezzlement case
New India Cooperative Bank has 28 branches and most of them are located in Mumbai, while two are in Surat in neighbouring Gujarat and one in Pune.
RBI imposes curbs on New India Co-Operative bank
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!
India's RBI to enhance liquidity next week to cover for tax outflows
The Reserve Bank of India will step up its liquidity infusion and inject over $16 billion next week into the banking system, ...
Former general manager of New India Cooperative Bank, banned by RBI, 'cheated' bank of ₹122 crore
Hitesh Mehta, former general manager and head of accounts at New India Cooperative Bank, has been booked for cheating the ...
Bank of India raises Rs 2,690 crore via infra bonds at 7.5% interest rate
The public sector lender had initially set a base issue size of Rs 1,500 crore, with an option to raise up to Rs 3,500 crore.
New India Cooperative Bank GM Hitesh Mehta arrested by EOW for allegedly embezzling Rs 122 crore
New India Cooperative Bank GM Hitesh Mehta has been accused of embezzling Rs 122 crore from the Mumbai-based bank. In this ...
The Week3h
Troubles at New India Coop Bank: Case filed against former General Manager for embezzlement
A day after the the Reserve Bank of India superseded the board of the New India Cooperative Bank, Mumbai Police have ...
FIR against New India Cooperative Bank GM in Rs 122 crore financial fraud
Two days after the Reserve Bank of India (RBI) imposed restrictions on the operations of New India Cooperative Bank, a First ...
Press Trust of India on MSN2h
Mumbai Police Question New India Cooperative Bank's GM For Rs 122 Crore 'Misappropriation'
The Reserve Bank of India (RBI) on Friday superseded the cooperative bank's board for a year and appointed an administrator ...
Why is Reserve Bank of India buying so much gold, why is India storing tonnes of gold? Is Modi govt preparing for some crisis?
According to the report by the World Gold Council, the Reserve Bank of India (RBI) purchased an additional 8 tons of gold in ...