India's central bank said on Monday it would allow depositors of troubled New India Co-operative Bank to withdraw up to 25,000 rupees (about $290) from their accounts.

The Reserve Bank of India (RBI) has imposed several restrictions on New India Cooperative Bank, including a withdrawal limit of ₹25,000 per depositor. This decision comes as the bank faces continuous financial losses.

The Reserve Bank of India (RBI) has allowed depositors of New India Cooperative Bank to withdraw up to 25,000, easing restrictions imposed earlier due to supervisory concerns. This decision comes over a week after the RBI dissolved the bank's board.

India's central bank on Monday revised certain norms for urban co-operative banks (UCBs), with a view of providing them with greater operational flexibility, while meeting regulatory objectives.

The Reserve Bank of India has relaxed restrictions on New India Co-operative Bank, allowing withdrawals up to Rs 25,000, effective February 27, 2025. This follows an assessment of the bank's liquidity position.

In a move which can alleviate the concerns of many account holders, the Reserve Bank of India (RBI) has allowed depositors of New India Co-operative Bank Limited, Mumbai, to withdraw up to Rs 25,000 from their accounts.

The Reserve Bank of India has allowed New India Co-operative Bank depositors to withdraw a maximum of ₹25,000 starting February 27.

In some relief for depositors of New India Co-Operative Bank, the Reserve Bank of India (RBI) on Monday, February 24, allowed them money withdrawal of upto Rs 25,000. The withdrawal limit relaxation is effective from February 27.