Concerns over New India Co-operative Bank's financial stability and a potential Rs 122 crore scam prompted the RBI to take strict action. This incident has added to the growing list of cooperative ...

RBI restrictions on New India Co-operative Bank: ‘All our savings stuck in this bank’ Updated on: 15 February,2025 07:46 AM IST | Mumbai Shirish Vaktania | mailbag@mid-day.com ...

The NICB fraud has revived concerns over deposit safety in co-operative banks, with 430 such bank failures since 1962, risking thousands of crores of depositor funds.

Co-operative banks were to be the financial backbone for small depositors — shopkeepers, pensioners, and salaried workers who trusted these institutions with their life savings ...

That yet another Urban Co-operative Bank (UCB) — the New India Co-operative Bank, based in Maharashtra, has failed is not a ‘new’ occurrence, since the history of UCBs is replete with such ...

The RBI, in a circular on January 17, stated: “Instructions on nomination facility for Scheduled Commercial Banks (SCBs) (Excluding RRBs), Primary (Urban) Co-operative Banks (UCBs) and Deposit ...