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The Reserve Bank of India restricts New India Co-op Bank, causing customer panic over deposits.
The Reserve Bank of India has imposed severe restrictions on the New India Co-operative Bank in Mumbai due to liquidity issues and supervisory concerns, barring it from accepting new deposits or allowing withdrawals.
This has caused panic among customers, leading to long queues outside the bank.
The RBI stated that essential expenses can still be covered, and eligible depositors can receive up to Rs 5 lakh in deposit insurance.
The restrictions will last for six months and are subject to review.
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El Banco de Reserva de la India restringe New India Co-op Bank, causando pánico a los clientes por los depósitos.