{"id":177674,"date":"2021-11-25T00:46:09","date_gmt":"2021-11-24T19:16:09","guid":{"rendered":"https:\/\/arunachaltimes.in\/?p=177674"},"modified":"2021-11-25T00:46:09","modified_gmt":"2021-11-24T19:16:09","slug":"rbi-puts-restrictions-on-malkapur-urban-co-op-bank-caps-withdrawals-at-rs-10000","status":"publish","type":"post","link":"https:\/\/arunachaltimes.in\/index.php\/2021\/11\/25\/rbi-puts-restrictions-on-malkapur-urban-co-op-bank-caps-withdrawals-at-rs-10000\/","title":{"rendered":"RBI puts restrictions on Malkapur Urban Co-op Bank; caps withdrawals at Rs 10,000"},"content":{"rendered":"<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">New Delhi, Nov 24 (PTI): The RBI on Wednesday imposed several restrictions, including a Rs 10,000 cap on withdrawals, on Malkapur Urban Co-operative Bank in Maharashtra due to deterioration in its financial position. Malkapur Urban Co-operative Bank shall not without prior approval of the RBI renew any loans, make any investment, incur any liability, and disburse any payment, the Reserve Bank said in a statement.<\/p>\n<p style=\"text-align: justify;\">\u201cIn particular, a sum not exceeding Rs 10,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn\u2026,\u201d it added. The restrictions would remain in force for six months from the close of business on Wednesday.<\/p>\n<p style=\"text-align: justify;\">The central bank, however, added that the issue of the directions to the co-operative banks should not per se be construed as a cancellation of banking license.<\/p>\n<p style=\"text-align: justify;\">\u201cThe bank will continue to undertake banking business with restrictions till its financial position improves,\u201d it said.<br \/>\nThe Reserve Bank may consider modifications of these directions depending upon circumstances, the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi, Nov 24 (PTI): The RBI on Wednesday imposed several restrictions, including a Rs 10,000 cap on withdrawals, on Malkapur Urban Co-operative Bank in Maharashtra due to deterioration in its financial position. Malkapur Urban Co-operative Bank shall not without prior approval of the RBI renew any loans, make any investment, incur any liability, and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-177674","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/177674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=177674"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/177674\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=177674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=177674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=177674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}