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RBI imposes severe restrictions on this bank, imposes Rs 1,000 cap on withdrawals — check details

-PTI/ Financial Express As per the directions, the bank shall not, without the prior approval of the RBI, grant or renew any loans and advances, make any investment, incur any liability, and disburse or agree to disburse any payment. The Reserve Bank of India (RBI) on Friday imposed several restrictions on Laxmi Cooperative Bank Ltd. Solapur, including a Rs 1,000 cap on withdrawals for customers, due to deterioration in its financial position. The...

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