A wave of panic and frustration swept across customers of the New India Co-operative Bank after the Reserve Bank of India (RBI) issued a notice halting all banking operations. Worried depositors gathered outside the bank’s branches, demanding clarity on the sudden decision.
Seema Waghmare, one of the affected customers, expressed her distress: “We deposited money just yesterday, but they did not say anything… They should have told us that this was going to happen… They are saying that we will get our money within 3 months… We have EMIs to pay, we have no idea how we will do all of that…”
#WATCH | Mumbai: Seema Waghmare, a customer of the New India Co-operative Bank, says, "We deposited money just yesterday, but they did not say anything… They should have told us that this was going to happen… They are saying that we will get our money within 3 months… We… pic.twitter.com/wrIiQp472D
— ANI (@ANI) February 14, 2025
The RBI’s directive has raised concerns over the financial stability of the bank and left customers in uncertainty over their hard-earned savings. While the central bank has assured that depositors will receive their funds within three months, many fear the impact of this sudden move on their financial commitments.