https://www.taxtmi.com/news?id=37704 Depositors of New India Co operative Bank have petitioned the central bank for immediate measures after an alleged embezzlement by a senior accounts officer, the imposition of supervisory restrictions including withdrawal limits, and the board's supersession with appointment of an administrator. The petition argues the alleged fraud alone should not have destabilised the bank, raises concern about possible undisclosed non performing assets or further frauds, criticises the insufficiency of deposit insurance coverage for many depositors, and demands transparency on audit findings and regulatory assessments to protect depositors and revive the bank. en-us Tue, 18 Mar 2025 19:31:02 +0530 Tue, 18 Mar 2025 19:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=37704 Depositors of New India Co operative Bank have petitioned the central bank for immediate measures after an alleged embezzlement by a senior accounts officer, the imposition of supervisory restrictions including withdrawal limits, and the board's supersession with appointment of an administrator. The petition argues the alleged fraud alone should not have destabilised the bank, raises concern about possible undisclosed non performing assets or further frauds, criticises the insufficiency of deposit insurance coverage for many depositors, and demands transparency on audit findings and regulatory assessments to protect depositors and revive the bank. News - Tue, 18 Mar 2025 19:31:02 +0530 https://www.taxtmi.com/news?id=37704