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RBI limits Maha co-op bank withdrawals to `1,000 per account

Depositors of Shatabdi Mahila Sahakari Bank of Thane in Maharashtra can withdraw only Rs 1,000 of their total balance, as per RBI's directions in view of the financial position of the bank.

‘The Reserve Bank of India has issued certain Directions to Shatabdi Mahila Sahakari Bank. Under the directions, depositors will be allowed to withdraw only Rs 1,000 of the total balance in every savings bank or current account or any other deposit account,’ the apex bank said in a release on Friday.

Further, RBI has also restrained the bank from granting or renewing any loans and advances, making any investment, incurring any liability including borrowal of funds and acceptance of fresh deposits, disbursing or agreeing to disburse any payment.
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