How did customers react to the Reserve Bank of India's restrictions on New India Cooperative Bank?

Following the announcement of RBI restrictions on New India Cooperative Bank, customers immediately rushed to the bank's branches in a state of panic. They were primarily motivated by fears that their savings could be at risk due to the bank's liquidity issues. The restrictions, effective from February 13 for six months, have significantly impacted depositors who are now unable to access their savings. This situation highlights the vulnerability of smaller financial institutions in emerging markets and has created considerable anxiety among account holders who face financial uncertainty.