India, Dec. 19 -- The Reserve Bank of India on Thursday imposed several restrictions on Valsad-based The Valsad Mahila Nagrik Sahakari Bank, including a prohibition on customer withdrawals, citing the lender's deteriorating financial position.
The restrictions, imposed through regulatory 'Directions', will remain in force for a period of six months from the close of business on Thursday.
As per the Directions, the bank is barred from granting or renewing loans, making investments, incurring liabilities, or disposing of any of its properties without prior approval from the RBI.
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