Financial Daily from THE HINDU group of publications
Sunday, Feb 20, 2005
Financial Daily from THE HINDU group of publications Sunday, Feb 20, 2005 |
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Money & Banking
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Co-operatives RBI restraint on Citizen Co-op Bank Our Bureau
Pune , Feb. 19 THE Reserve Bank of India has told the Pune-based Citizen Co-operative Bank customers that they could withdraw money up to Rs 5,000, one time, till further notice. This has been done to save the small depositors. The RBI has asked the bank to stop fresh loans, officials of the RBI told Business Line. According to official sources, the board of directors of the bank had been dissolved 20 months ago because of bill discounting fraud of Rs 6.69 crore.
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