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coop bank: National Cooperative Bank comes under RBI action, scores of depositors rush to withdraw money

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. ....

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