Newspunjab
10 Oct 2025
Several stringent restrictions have been imposed on The Baghat Urban Co-operative Bank, located in Solan, Himachal Pradesh. Customers will now be able to withdraw a maximum of Rs 10,000 from their accounts. The RBI said that several concerns were raised about the functioning of the bank in recent months. The central bank discussed the functioning of the bank with its board and senior officials, but no concrete steps were taken to improve the situation.
Under the new conditions, the bank will no longer be able to grant new loans or advances, nor will it be able to accept new deposits or borrowings without the approval of the RBI. However, the bank has been given the flexibility to adjust customer deposits against its loans.
