India, Co-operative Bank

India's central bank supersedes board of New India Co-operative Bank
India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender.
Uncovering the Rs 122-Crore Scam at New India Co-Operative Bank
The Economic Offences Wing (EOW) of Mumbai Police is investigating a Rs 122-crore embezzlement at New India Co-Operative Bank Ltd., involving senior officials and a chartered accountancy firm. Several arrests have been made,
New India Co-Operative Bank Case: From PMC Bank To Others, A Look Into Failures Of Co-Operative Lenders In The Past
The series of events leads us into a flashback of the cataclysmic failure of another co-operative bank, Punjab & Maharashtra Cooperative Bank or PMC bank. PMC Bank, which itself was merged with Unity Small Finance Bank, went bust in 2022, ensuing the play similar scenes, that are being witnessed today.
Explainer: The DICGC as a safety net in the New India Co-operative bank crisis
The DICGC acts as a crucial safeguard in this scenario, ensuring that depositors of the New India Co-operative Bank are not left entirely out of pocket
Explained: How the 122 Crore New India Cooperative Bank Fraud Unfolded
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New India Co-Operative Bank scam: ‘First such scam fully done in cash’
The Economic Offences Wing (EOW) of the Mumbai police is struggling to figure out how accused Hitesh Mehta siphoned depositor money from New India Co-operative Bank and re-lent it to developers off the books.
New India Co-Operative Bank: How much amount can be claimed on closure of New India Co-Operative Bank..
After the disclosure of the Rs 122 crore scam in India Cooperative Bank, the Reserve Bank of India (RBI) has taken strict action against the bank. RBI has banned both deposits and withdrawals in the bank and suspended the board for 12 months.
Mint Primer | Cooperative bank crisis: Has anything changed since PMC's plight in 2019?
The RBI has imposed strict regulations on New India Cooperative Bank following an alleged fraud, halting withdrawals and ...
Daily Monitor3d
What Cooperative Bank’s comeback means
In an interview, the General Secretary of the Uganda Cooperative Alliance explores the potential behind this revival, and ...