Customers of THESE two cooperative banks barred from withdrawing cash by RBI
In both cases, the RBI said the issue of the directions under the Banking Regulation Act should not per se be construed as a cancellation of banking licenses issued to them.
In wake of the restrictions, the two banks cannot, without prior approval of the RBI grant or renew any loans, make any investment, incur any liability, including borrowal of funds and acceptance of fresh deposits. Pic:Reuters