India, Aug. 28 -- The Reserve Bank of India (RBI) has imposed restrictions on Desaiganj Nagari Cooperative Bank Maryadit, Desaiganj, citing concerns over the bank's liquidity position and supervisory issues.
Effective from the close of business on August 27, 2026, the bank has been barred from allowing withdrawals from savings, current or other depositor accounts without prior written approval from the RBI. The bank has also been restricted from granting or renewing loans, making investments, accepting fresh deposits, borrowing funds or disposing of its assets, except as specifically permitted under the RBI's directions.
The bank may continue to incur essential expenses, including employee salaries, rent and electricity bills. It may also...