The Reserve Bank (RBI) has imposed strict restrictions on another bank. In a statement issued by the RBI, it was said that out of the total amount of all the savings accounts, current accounts or any other accounts of the depositors of the bank will not be allowed to withdraw more than Rs 5,000.
New Delhi. For the past several days, the Reserve Bank of India (RBI) has taken a tough stand against the banks that do not follow its guidelines. In March, the RBI imposed a fine on 8 banks for irregularities. Now the Reserve Bank has imposed strict restrictions on a bank based in Bangalore.
After the orders of the Reserve Bank, now its customers will not be able to withdraw more than Rs 5,000 from Shushruti Souharda Sahakara Bank, Bangalore-based cooperative bank. Not only this, the central bank has also banned the lending and deposit of money of this bank till further orders.
Ban imposed for 6 months
Due to these restrictions of the Reserve Bank, the customers of the bank will have to face a lot of problems. At the same time, there will be concern in the minds of customers about the future of their money deposited in the bank. In a statement issued by the RBI, it was said that out of the total amount of all the savings accounts, current accounts or any other accounts of the depositors of the bank cannot be allowed to withdraw more than Rs 5,000. The Reserve Bank has allowed the bank to carry out banking operations with restrictions till its financial position improves. At present, this restriction has been imposed for six months.
Reserve Bank has already taken action
The Reserve Bank of India (RBI) on April 5 imposed a fine on 3 co-operative banks for violating the rules. However, no restrictions were imposed on these banks. The Reserve Bank had imposed a fine of Rs 5 lakh on these three banks. Among the banks that have been fined, 2 banks were from Maharashtra and one from West Bengal. In March also, the Reserve Bank had fined 8 banks for not following the rules.
The banks which were fined by the Reserve Bank were Phaltan-based Yashwant Cooperative Bank Limited, Mumbai-based Konkan Mercantile Co-operative Bank Ltd and Kolkata-based Samata Cooperative Development Bank (the Samata). Cooperative Development Bank).
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