The Reserve Bank of India has once again imposed several restrictions on three cooperative banks. In view of the deteriorating financial condition of three co-operative banks, the Reserve Bank has imposed several restrictions, including withdrawal of funds, on them.

These three banks are Jaiprakash Narayan Nagari Sahakari Bank, Basmatnagar, The Karmala Urban Co-operative Bank, Solapur and Durga Co-operative Urban Bank, Vijayawada. The central bank said in a statement that due to restrictions imposed on Jaiprakash Narayan Nagari Sahakari Bank, Basmatnagar, depositors will not be able to withdraw funds from their accounts.

The depositors of The Karmala Urban Co-operative Bank, Solapur can withdraw only Rs.10,000 from their accounts. RBI has also banned Durga Co-operative Urban Bank, Vijayawada. Its customers can withdraw up to Rs 1.5 lakh from their deposits. RBI has continuously imposed restrictions on many banks. PLC/GT

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