New Delhi, Feb. 24 -- The Reserve Bank of India (RBI) on Monday allowed depositors to withdraw up to Rs.25,000 from New India Cooperative Bank, over a week after it stepped in to dissolve its board on the back of "supervisory concerns".

"The Reserve Bank, after reviewing the bank's liquidity position in consultation with the administrator, has decided to allow a deposit withdrawal of up to Rs.25,000 per depositor, with effect from 27 February 2025," it said in a statement.

RBI said that with this relaxation, more than 50% of the total depositors will be able to withdraw their entire balances, and the remaining depositors can draw up to Rs.25,000 from their deposit accounts.

"The depositors may use the branch as well as the ATM channel ...