The RBI has imposed certain restrictions on Kerala-based, Thodupuzha Urban Co-operative Bank for a period of six months (August 23, 2022).
Reason: Due to its deteriorating financial condition
Impact:
- Restriction on granting or renewing loans and advances and making any investments.
- Suspended withdrawal in the bank’s savings and current accounts for depositors.
- The bank will continue its banking business with restrictions till its financial position improves.