After the Reserve Bank of India (RBI) imposed penalty on some banks in the last few days, now a bank has fixed the withdrawal limit. Yes, on behalf of RBI, many types of restrictions have been imposed on Raigad Sahakari Bank Limited of Mumbai. Yes and according to the information received, the central bank has taken this step in view of the deteriorating financial health of the bank. Let us tell you that a withdrawal limit of Rs 15,000 has been imposed by the central bank for the customers of Raigad Co-operative Bank.
It is being said that after this strictness, the cooperative bank will not be able to give loans without the prior approval of the Reserve Bank, will not be able to make any investment and will not be able to accept new deposits. Let us tell you that recently, in a statement given by the Reserve Bank, it was said that the customers of the bank will not be able to withdraw more than Rs 15,000 from their savings and current accounts. These restrictions on the bank will be applicable for six months. With this, the Reserve Bank has clarified that the instructions issued to Raigad Cooperative Bank do not mean to cancel its banking license.
Let us also tell you that earlier RBI had imposed penalty on two big banks for negligence in following the rules. In fact, it was told in the information given by RBI that Kotak Mahindra Bank and IndusInd Bank have been fined one crore rupee each for non-compliance with regulatory compliance.
RBI steps help banks recover Rs 8.6L cr NPAs in last 8 fiscals