Customers of the New India Co-operative Bank have been left in shock and uncertainty after the Reserve Bank of India (RBI) issued strict restrictions on the bank's financial operations. The decision, which came into effect on 13 February 2025, bars the bank from granting loans, accepting new deposits, making investments, or disbursing any payments without prior approval from the RBI.

#WATCH | Mumbai, Maharashtra: People gather outside the New India Co-operative Bank after the RBI issued a notice to halt all business pic.twitter.com/kkzXmCIMqe