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RBI Allows Withdrawal of ₹25k From New India Co-op Bank Accounts
The New Indian Express Kochi
|February 25, 2025
AFTER putting restrictions on withdrawal from New India Co-operative Bank, the Reserve Bank has decided to allow depositors of the bank to withdraw up to ₹25,000 per depositor with effect from February 27, 2025.
With this relaxation, over 50% of depositors will be able to withdraw their entire balances. In a circular on Monday, the RBI said the depositors may use the branch as well as ATM channel of the bank for this withdrawal; however, aggregate amount that can be withdrawn will be ₹25,000 per depositor or the balance available in their account whichever is lower. The RBI on February 13 had imposed an All Inclusive Directions (AID) on New India Co-operative Bank, Mumbai, and the bank was
This story is from the February 25, 2025 edition of The New Indian Express Kochi.
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