India, Oct. 9 -- The Reserve Bank of India (RBI) has imposed restrictions on Sri Mahatma Basaveshwar Co-operative Bank Ltd., Afzalpur, effective from the close of business on October 8, 2026, citing concerns over the bank's liquidity position and depositor protection.
Under the directions issued on October 7, 2026, the bank cannot allow withdrawals from savings, current or other depositor accounts. It is also barred from granting or renewing loans, making investments, accepting fresh deposits or undertaking certain financial transactions without prior written approval from the RBI. The bank may, however, incur expenses for essential items such as employee salaries, rent and electricity bills, subject to the specified conditions.
Eligible ...