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RBI tightens screws on another bank, customers will not be able to withdraw money for 6 months

The Reserve Bank of India has banned another co-operative sector bank. Actually, Nashik’s Independence Co-operative Bank Limited has been banned by RBI. 




According to a news agency, this action has been taken by the RBI as a precaution due to the financial situation of the bank being fragile. After the ban by the RBI, bank account holders will no longer be allowed to withdraw money. That is, the account holders will not be able to withdraw money.

With the help of this mobile app, open accounts in Post Office, many tasks will be done sitting at home

At the same time, about 99.88 percent of the accountancy co-operative bank account holders are eligible for the insurance cover of Deposit Insurance and Credit Guarantee Corporation. Under this insurance cover scheme the bank account holder is provided insurance cover on deposits up to 5 lakhs.

 

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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