New Delhi: The Reserve Bank of India has recently taken strict action against five backs in the country for financial mess and violation of several other policies. All of those banks, which are closely watched by the Reserve Bank, are cooperative banks. The Reserve Bank has imposed restrictions on a number of issues including withdrawal of funds from banks.
The co-operative banks that have taken strict measures are HCBL Co-operative Bank, Lucknow (Uttar Pradesh), Model Women’s City Assistant Bank Mariadit, Aurangabad (Maharashtra) and Shimla Sahakara Bank Regular, Maddur, Mandya (Karnataka) respectively.
