India's central bank said on Monday it would allow depositors of troubled New India Co-operative Bank to withdraw up to 25,000 rupees (about $290) from their accounts.

Mumbai: The Reserve Bank of India (RBI) has eased withdrawal restrictions on New India Cooperative Bank, allowing depositors to withdraw up to Rs 25,0.

RBI allows NICB depositors to withdraw up to Rs 25,000, reconstitutes advisory committee for bank's administrator.

India's central bank will need to inject at least another 1 trillion rupees ($11.54 billion) into the banking system by March-end as durable liquidity remains in a deficit despite a recent cash infusion,

The RBI has allowed New India Co-operative Bank customers to withdraw up to Rs 25,000 from their deposits following a review of the bank's liquidity.

The Reserve Bank of India (RBI) on February 24 has increased the small value loans ceiling per borrower of Urban Co-operative Banks (UCB) to Rs 3 crore per borrower and aggregate exposure of a UCB to housing, real estate and commercial real estate loans to 25 percent, according to the central bank notification.

RBI relaxes restrictions on New India Co-operative Bank, allowing depositors to withdraw up to ₹25,000 from February 27.

With this relaxation, more than 50% of the total depositors can withdraw their entire balances, and the remaining depositors can draw up to ₹25,000 from their deposit accounts.

In a partial relief to the depositors of fraud-hit New India Cooperative Bank, the Reserve Bank of India (RBI) has allowed withdrawal of Rs 25,000 with effect from February 27, 2025.

In a move which can alleviate the concerns of many account holders, the Reserve Bank of India (RBI) has allowed depositors of New India Co-operative Bank Limited, Mumbai, to withdraw up to Rs 25,000 from their accounts.

In some relief for depositors of New India Co-Operative Bank, the Reserve Bank of India (RBI) on Monday, February 24, allowed them money withdrawal of upto Rs 25,000. The withdrawal limit relaxation is effective from February 27.