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.

This announcement comes just over a week after the central bank prohibited the bank from issuing new loans, dissolved its board and took control owing to ‘supervisory concerns.’

The insurance framework should have a higher coverage threshold, a risk-based premium structure and a mechanism to ensure swift payouts in case of bank failures

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 RBI on Feb. 13 barred the lender from issuing new loans,

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.

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.