https://www.taxtmi.com/news?id=34124 The Reserve Bank superseded New India Cooperative Bank's board and appointed an Administrator and Committee of Advisors, imposing time-bound business restrictions that bar new lending, limit withdrawals except as covered by deposit insurance, prohibit investments and fresh liabilities without prior approval, and permit only essential expenditures and prescribed set-offs, citing supervisory concerns arising from a spot inspection that uncovered alleged misappropriation of funds and governance lapses. en-us Fri, 14 Feb 2025 20:46:03 +0530 Fri, 14 Feb 2025 20:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34124 The Reserve Bank superseded New India Cooperative Bank's board and appointed an Administrator and Committee of Advisors, imposing time-bound business restrictions that bar new lending, limit withdrawals except as covered by deposit insurance, prohibit investments and fresh liabilities without prior approval, and permit only essential expenditures and prescribed set-offs, citing supervisory concerns arising from a spot inspection that uncovered alleged misappropriation of funds and governance lapses. News - Fri, 14 Feb 2025 20:46:03 +0530 https://www.taxtmi.com/news?id=34124