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How did customers react to the RBI's restrictions on New India Cooperative Bank?
Following the announcement of restrictions by the Reserve Bank of India, customers rushed to New India Cooperative Bank's branches in panic, fearing their savings were at risk. Many depositors expressed frustration over the lack of prior warning about these limitations. The situation created immediate financial distress for customers who depend on regular access to their funds for monthly interest payments and daily expenses. This reaction highlights the vulnerability of depositors in smaller financial institutions when regulatory actions are implemented suddenly.

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Customer Panic: Rush on New India Cooperative Bank
WION·7 months ago
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