If you are a customer of this bank, then know how much money you will be able to withdraw from the account, RBI imposed a ban

 New Delhi, PTI. The Reserve Bank of India has banned another cooperative bank. RBI has imposed several restrictions on Maharashtra based Babaji Date Mahila Sahakari Bank, Yavatmal. These also include a withdrawal limit of Rs 5,000 for customers. The central bank has taken this step amid the deteriorating financial condition of the cooperative bank. The Reserve Bank said the restrictions under the Banking Regulation Act, 1949 will remain in force for six months from the close of business on November 8, 2021 and are subject to review.

This co-operative bank of Yavatmal can no longer make any payment nor give any loan or advance without the approval of the Reserve Bank. Apart from this, without the approval of the Reserve Bank, the bank will not be able to make any payment, enter into any arrangement, nor will it be able to sell or transfer its properties.

Keeping in view the current cash position of the bank, all savings bank or current account or other account holders will not be able to withdraw more than Rs 5,000 from their accounts, the statement said.

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