ALERT! RBI puts Rs 1,000 withdrawal cap on customers of THIS bank, bars it from granting fresh loans
The Reserve Bank of India (RBI) has imposed a withdrawal cap of Rs 1,000 on customers of Deccan Urban Cooperative Bank and barred the Karnataka-based lender from granting fresh loans or accepting deposits.
The bank cannot undertake any fresh business, including giving new loans and taking fresh deposits, said the RBI adding that the directions will remain in force for 6 months from close of business on Feb 19 and are subject to review. Source: PTI