Hope for Account Holders: RBI Raises Withdrawal Ceiling at New India Co-operative Bank

Reserve Bank of India (RBI) has decided that the New India Co-operative Bank depositors can withdraw an amount of Rs 25,000 from the accounts from 27th of February, 2025. RBI had placed restrictions on the bank earlier this month due to financial malpractices. Relaxation will enable more than 50% of the depositors to withdraw their total balances and the remaining to withdraw up to Rs 25,000. The depositors may use both branch and ATM channels for withdrawal. RBI has also reconstituted the Committee of Advisors for supervising the operations of the bank and keeping a close vigil on the events for safeguarding the interest of the depositors.

 

Source: Reserve Bank of India