New Delhi. The Reserve Bank has banned the Mumbai based New India Co-operative Bank. Due to this decision of RBI, now the bank will not be able to give loans to anyone and the account holders will not be able to withdraw their money. The RBI has banned any type of bank transactions for 6 months. After this decision of the Reserve Bank, now the customers of New India Co-operative Bank are worrying about their money. A large number of people are present outside the bank branches. Let us tell you what will happen to the money of account holders deposited in the bank and how they will be able to withdraw their money.
The RBI has taken action on the New India Co-operative Bank on charges of financial irregularities. The New India Co-operative Bank has been in loss for the last two financial years. The bank has shown a loss of 23 crore in the financial year ending March 2024. After the ban on behalf of the RBI, a notice has been posted outside the bank branch by the caretaker CEO of the bank, in which he has asked the account holders that your deposit up to Rs 5 lakh is safe with DICGC of India. Help line number 9769008501 for customers has also been released by the bank. Account holders can get information by calling this number.
In this way, bank account holders can now receive their deposit money from the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, they will be able to get only up to 5 lakh rupees as DICGC takes a guarantee of only 5 lakh rupees of account holders. If the bank sinks, then it is a shock for such customers who have more than 5 lakh rupees in their account.
