The Reserve Bank of India (RBI) has imposed limitations on The National Cooperative Bank, one of Bengaluru’s oldest institutions, due to its deteriorating financial status.

The Reserve Bank of India (RBI) has imposed limitations on The National Cooperative Bank, one of Bengaluru’s oldest institutions, due to its deteriorating financial status. The bank can now only pay depositors ₹50,000 across all accounts. Furthermore, the RBI has barred the bank from renewing loans, making investments, creating liabilities, making payments, or accepting new deposits.