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. The action,

The Mumbai police have registered a case against the New India Cooperative Bank's General Manager and Head of Accounts along with his associates for allegedly embezzling Rs 122 crore of funds, officials said on Saturday.

Two days after the Reserve Bank of India (RBI) imposed restrictions on the operations of New India Cooperative Bank, a First Information Report (FIR) has been r

The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions. High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth,

The Reserve Bank of India (RBI) on Friday superseded the cooperative bank's board for a year and appointed an administrator to manage its affairs

Hitesh Mehta was detained following an investigation at Aryavrat Society. He was taken to the EOW office for interrogation.

However, RBI stated that the bank is allowed to set off loans against deposits subject to the conditions stated in the directions

Bank of India (BoI) on Saturday said that it has successfully raised Rs 2,690 crore through 10-year infrastructure bonds at an interest rate of 7.50 per cent.

Police suspect Mehta had an accomplice, and the case has now been transferred to the Economic Offences Wing (EOW) for further investigation.

A major scam involving New India Co-operative Bank in Mumbai has come to light, with the bank's General Manager, Hitesh Mehta, accused of embezzling ₹12 crore. The Economic Offences Wing (EOW) is investigating the case,

The Mumbai police have registered a case against the New India Cooperative Bank's General Manager and Head of Accounts along with his associates for allegedly embezzling Rs 122 crore of funds, officia