New Delhi: Taking action against four different cooperative banks of the country, the Reserve Bank of India (RBI) has imposed major restrictions on them. This includes imposing a limit on the withdrawal of money from customers' own bank accounts. RBI has decided to take this big step in view of the deteriorating economic condition of these cooperative banks. According to RBI, this action has been taken on Saibaba Janata Sahakari Bank, The Suri Friends Union Co-operative Bank Ltd., Suri (West Bengal) and National Urban Co-operative Bank Ltd of Bahraich. This simply means that if you are a customer of any of these banks then your troubles are going to increase.

According to RBI, customers of Saibaba Janata Sahakari Bank will no longer be able to withdraw more than Rs 20,000 from their accounts. Whereas this limit of withdrawal has been fixed at Rs 50,000 for the customers of Suri Friends Union Co-operative Bank. Similarly, in the case of National Urban Co-operative Bank, the withdrawal limit has been fixed at Rs 10,000 per customer. Now the customers of National Urban Co-operative Bank will not be able to withdraw more than 10 thousand rupees from their account. 

RBI has also imposed several restrictions on Bijnor-based United India Co-operative Bank Limited, including withdrawal of money by customers. RBI has issued these instructions to four co-operative banks under the Banking Regulation Act, 1949, which will be effective for six months. In another statement, RBI said that it has imposed a penalty of Rs 57.75 lakh on Suryoday Small Finance Bank for violation of certain norms related to 'fraud'.

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