Mumbai, Feb. 14 -- The Reserve Bank of India (RBI) on Friday issued a notice imposing restrictions on New India Co-operative Bank Limited, Mumbai, barring it from carrying out financial operations without prior approval.

"It is hereby notified for information of the public that...the Reserve Bank of India (RBI) ...has issued certain Directions to New India Co-operative Bank Limited, Mumbai ("the bank"), whereby, as from the close of business on February 13, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in the discharge of its l...