The RBI on Wednesday barred customers of Thodupuzha Urban Co-operative Bank, Kerala, from withdrawing funds as part of several restrictions imposed on the lender due to its deteriorating financial condition.
The Reserve Bank, in a statement said the restrictions on the bank came into force from the close of business on August 23.
"Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits...," it said.
