The RBI on Friday imposed several restrictions on New Delhi-based Ramgarhia Co-operative Bank, including a cap of Rs 50,000 on withdrawal per depositor, in view of the lender's deteriorating financial condition.
The restrictions came into effect after the close of business on Friday and will remain in force for six months, the Reserve Bank said in a statement while issuing the directions under the Banking Regulation Act, 1949.
The bank cannot, without prior approval of the RBI, grant or renew any loans, make investments or accept fresh deposits.
"In particular, a sum not exceeding Rs 50,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn...," the RBI said. - PTI.
The suspected killer of Japan's former prime minister Shinzo Abe admitted targeting the politician and said he held a grudge against an organisation he believed Abe was connected to, police said Friday.
Senior police officers in the western region of Nara, where the murder took place, named the suspect as unemployed 41-year-old Tetsuya Yamagami, who said he had used a handmade gun.
"That's the suspect's assertion, and we have determined that (the gun) is clearly handmade in appearance, although our analysis is currently ongoing," an officer told reporters. - AFP.