New Delhi, Feb. 15 -- New India Co-operative Bank fraud: In its instructions against the bank, the RBI said,"It is hereby notified for information of the public that the 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."

According to RBI's order, account holders cannot make any investment, incur any liability, including borrower of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in the discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell,...