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RBI imposes severe restrictions on Kapol Cooperative Bank

RBI imposes severe restrictions on Kapol Cooperative Bank

Friday, March 31, 2017, 2:43 PM

RBI on Friday imposed stringent restrictions on the Kapol Cooperative Bank Ltd. and barred depositors from withdrawing over Rs.3,000 from any type of accounts. The RBI has also restricted the financially troubled bank from granting or renewing loans and advances or making any investments, incurring any liability including borrowal of funds, and accepting fresh deposits without prior written approval of the apex bank.
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