India, June 15 -- The Reserve Bank of India has imposed operational restrictions on Mogaveera Co-operative Bank Ltd. under provisions of the Banking Regulation Act, 1949, citing concerns over the bank's financial health and failure to adequately address supervisory issues.
Under the directions issued on June 11, 2026, and effective from the close of business on June 12, 2026, the bank has been barred from undertaking several key banking activities without prior approval from the RBI. These include granting or renewing loans, making investments, accepting fresh deposits, raising borrowings, incurring liabilities, disbursing payments, entering into compromises or arrangements, and selling or transferring assets.
To safeguard depositors' int...