Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: RBI Clamps Down on New India Co-operative Bank
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
RBI Restrictions New India Bank
PhotoNews Pakistan > Business > RBI Clamps Down on New India Co-operative Bank
Business

RBI Clamps Down on New India Co-operative Bank

Web Desk
By Web Desk Published February 14, 2025 2 Min Read
Share
Mumbai: Customers convened at New India Co-operative Bank in Mumbai on Friday, February 14, 2025, following the RBI's imposition of restrictions on withdrawals. (Photo Credits: PTI Photo), and The Reserve Bank of India (RBI) emblem.
SHARE

The Reserve Bank of India (RBI) has taken decisive action against New India Co-operative Bank, headquartered in Mumbai, following the detection of significant financial irregularities. The central bank’s stringent measures include barring the bank from issuing new loans and accepting deposits to safeguard depositor interests.

Effective February 13, 2025, New India Co-operative Bank faces several operational constraints imposed by the RBI. These include:

  • A prohibition on granting new loans or renewing existing ones.
  • Restrictions on accepting fresh deposits or making investments.
  • A freeze on disbursing any payments.
  • A ban on selling or disposing of any assets.

These measures will last six months, underscoring the RBI’s commitment to stabilizing the bank’s financial health.

#WATCH | Mumbai, Maharashtra: People gather outside the New India Co-operative Bank after the RBI issued a notice to halt all business pic.twitter.com/kkzXmCIMqe

— ANI (@ANI) February 14, 2025

Reasons Behind RBI’s Decision:

The RBI’s decision came after a thorough evaluation revealed that New India Co-operative Bank’s financial stability was in jeopardy. The bank’s primary concern was solvency, prompting immediate restrictions to prevent further deterioration and protect depositors.

The enforcement of these restrictions has caused significant distress among the bank’s clientele. Upon hearing the news, many depositors rushed to their branches in hopes of withdrawing their savings, only to find themselves unable to access their funds. The RBI assures that the Deposit Insurance Scheme protects deposits up to Rs 5 lakh, providing some relief against potential losses.

Chaos erupted outside the New India Co-operative Bank, in #Mumbai, after the Reserve Bank of India (#RBI) imposed restrictions on the bank, effectively halting its business operations from February 13, 2025.

Know more 🔗 https://t.co/7gQ5b1pYUK#ReserveBankOfIndia… pic.twitter.com/wotFKpGz60

— The Times Of India (@timesofindia) February 14, 2025

The situation has sparked widespread reaction on social media, with numerous posts depicting long queues and locked bank doors as customers grapple with restricted access to their funds.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Charlie Kirk After 2025 Shooting

Republicans Warn Against Disrespecting Charlie Kirk After Fatal Shooting

India-Pakistan Asia Cup 2025

India vs. Pakistan: High-Stakes Asia Cup 2025 Clash in Dubai

Dr. Suhail Anjum, 44 Doctor Faces Tribunal Over Misconduct in UK Hospital

UK Doctor Admits to Sexual Activity During Surgery

Post Archives

More Popular from Photonews

Pakistan T20 Tri-Series 2025
Sports

Nawaz’s Hat-Trick Powers Pakistan to T20 Tri-Series Victory

2 Min Read
Carlos Alcaraz Dating Brooks Nader
Sports

Carlos Alcaraz Dating Brooks Nader Romance Rumors Confirmed

2 Min Read
Pakistan Industrial Policy 2025
Business

Pakistan’s New Industrial Policy 2025: Ending Cross-Subsidies to Boost Exports

2 Min Read
Entertainment

Oasis Reunion Tour 2026: Gallagher Brothers to Rock Knebworth Again

Oasis, led by Liam and Noel Gallagher, announced a historic reunion tour that has already grossed…

September 11, 2025
Pakistan

Islamabad High Court Chief Justice Explains Imaan Mazari Dispute

Islamabad High Court Chief Justice Sardar Muhammad Sarfraz Dogar spoke about a dispute with lawyer Imaan…

September 12, 2025
Pakistan

Wasim Akram Faces Complaint for Promoting Betting Platform in Pakistan

A Pakistani citizen filed a complaint with the National Cyber Crime Investigation Agency (NCCIA). The complaint…

September 13, 2025
Top NewsWorld

Jair Bolsonaro Sentenced to 27 Years for Coup Plotting in Brazil

Brazil’s Supreme Court sentenced former president Jair Bolsonaro to 27 years in prison for plotting a…

September 12, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?