While the economic situation of the people has deteriorated in the Corona era, the Reserve Bank of India (RBI) has taken strict action on two banks and banned them in 24 hours, due to which the bank customers are worried. Private sector Lakshmi Vilas Bank, which is going through a financial crisis, has been banned for a month. Under which the bank account holders can now withdraw up to Rs 25,000 only. After this, the Manta Urban Cooperative Bank was banned in the Jalna district of Maharashtra, which would be effective for six months from 17 November 2020. Let’s know how it will affect banks and customers.
Restrictions on granting loans or accepting deposits
RBI has banned the Manta Urban Cooperative Bank in the Jalna district of Maharashtra for six months for payment of money and loan transactions. According to these instructions, this bank will not be able to make any loan or loan without the permission of RBI nor will it be able to renew the old loans and make any investment. Bank has also been banned from accepting new deposits. He will not be able to make any payment nor can make any agreement to pay.