co-operative bank, India and Central

Banking Central | Another co-op bank bites the dust, it's the same story all over again
The RBI has been cracking down on erring co-operative banks but the underlying problems, especially governance, persist
New India Co-Operative Bank Case: From PMC Bank To Others, A Look Into Failures Of Co-Operative Lenders In The Past
The series of events leads us into a flashback of the cataclysmic failure of another co-operative bank, Punjab & Maharashtra Cooperative Bank or PMC bank. PMC Bank, which itself was merged with Unity Small Finance Bank, went bust in 2022, ensuing the play similar scenes, that are being witnessed today.
India's central bank supersedes board of New India Co-operative Bank
India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender.
Explainer: The DICGC as a safety net in the New India Co-operative bank crisis
The DICGC acts as a crucial safeguard in this scenario, ensuring that depositors of the New India Co-operative Bank are not left entirely out of pocket
New India cooperative bank under RBI lens
The economic offences wing of the Mumbai police has arrested Hitesh Mehta, the former general manager and head of accounts at New India Cooperative Bank, in a 122 crore rupees embezzlement case. The arrest comes just days after the Reserve Bank of India imposed strict restrictions on the bank over financial irregularities.
RBI restricts New India Co-operative Bank over Rs 122 crore fraud
RBI restricts New India Co-operative Bank amid allegations of a Rs 122 crore fraud scandal. Tom Hanks ‘storms out’ of SNL 50th anniversary concert after Jimmy Fallon ‘confusion’ Warren Buffett’s Berkshire Hathaway cuts stakes in BoA and Citi amid US debanking concerns Scholz says Germany will not support dictated peace agreement The IRS has announced 3 key changes to 401(k)s for 2025 — here's how to take advantage of them and grow your retirement riches Remains of 50,
Former New India Cooperative Bank GM arrested by EOW
Hitesh Mehta was on Saturday evening arrested by the Economic Offences Wing (EOW) of Mumbai Police, the officials said. Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai,
Spooked by RBI ban, New India Co-op Bank customers throng branches
All requests for withdrawal of funds were turned down, with banners at branch gates saying deposits would be paid back in around 90 days
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
The Reserve Bank of India (RBI) on Friday took control of the board of Mumbai-based New India Cooperative Bank for a year and appointed former SBI chief general manager Shreekant as the administrator to oversee its operations,
RBI restrictions on New India Co-op Bank: Angry customer asks questions
As the RBI`s restrictions on the New India Cooperative Bank entered its second day, angry customers gathered outside multiple bank branches in parts of Mumbai, grappling with uncertainty over their finances are trying to seek answers to their questions.
Daily Monitor1d
What Cooperative Bank’s comeback means
In an interview, the General Secretary of the Uganda Cooperative Alliance explores the potential behind this revival, and ...
What is the fraud at Mumbai’s New India Cooperative Bank, why depositors can’t get their money
During an RBI inspection on February 12, Rs 112 crore was found missing from the bank's Prabhadevi branch, and an additional ...
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Explained: How the 122 Crore New India Cooperative Bank Fraud Unfolded
There's not one but five answers to this Bowling Coach Morne Morkel Leaves India's Camp In Dubai To Return Home: Report ...
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Arrested New India Cooperative Bank official says gave money to builder for SRA project
The cooperative bank's general manager and head of accounts Hitesh Mehta and real estate developer Dharmesh Paun have been ...