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The Reserve Bank of India (RBI) has imposed restrictions on The National Cooperative Bank, one of Bengaluru s oldest institutions, due to its worsening financial condition. The bank is now only permitted to disburse Rs 50,000 to depositors across all accounts. The RBI has barred the bank from renewing loans and making any investments, incurring any liabilities, disbursing payments, and accepting fresh deposits. ....
The Reserve Bank of India (RBI) has imposed restrictions on The National Cooperative Bank in Bengaluru, limiting deposit payouts to ₹50,000 and prohibiting loans, investments, and accepting new deposits, due to its worsening financial condition. ....
The RBI put out a statement in the morning limiting the bank s powers after it found the bank s finances to be weak to carry out normal business transactions. There were long queues of customers wanting to withdraw whatever they could, but crowds had only swollen by the evening. Many customers had brought their fixed deposit bonds to encash, but were in vain. ....
TRAVERSE CITY — Sparring attorneys aired new details in a contract dispute between a county-owned nursing home and an alternative care organization they helped start. ....