Mumbai: The Reserve Bank of India (RBI) on Thursday imposed a series of regulatory restrictions on Valsad-based The Valsad Mahila Nagrik Sahakari Bank, including a complete ban on customer withdrawals, citing the lender’s weak financial health. The restrictions, issued in the form of regulatory Directions, will remain in force for six months from the close of business on Thursday.
Under the Directions, the bank is prohibited from granting or renewing loans, making investments, incurring fresh...Read More