Hyderabad: Reserve Bank of India (RBI) has imposed restrictions on withdrawal of money from City Cooperative Banks. The depositors will not be allowed to withdraw more than Rs. 1000.
RBI has further imposed restrictions on loans. Before sanctioning any loan, permission has to be sought from RBI.
These instructions have come into force with effect from 17th April. In case of any violation, the license of the cooperative bank will be cancelled.
RBI has also issued instructions that in case of releasing loans, permission has to be sought
–Siasat News