India's central bank said on Monday it would allow depositors of troubled New India Co-operative Bank to withdraw up to 25,000 rupees (about $290) from their accounts. The RBI on Feb. 13 barred the lender from issuing new loans,

Withdrawals will be available through bank branches and ATMs, but customers cannot exceed the set limit or their available balance, whichever is lower.

Withdrawals can be made through branches or ATMs, but the total amount a depositor can withdraw will be capped at Rs 25,000 or the balance available in their account, whichever is lower.

India's central bank on Monday revised certain norms for urban co-operative banks (UCBs), with a view of providing them with greater operational flexibility, while meeting regulatory objectives. UCBs are financial institutions operating in urban and semi-urban areas,

With this relaxation, more than 50% of the total depositors will be able to withdraw their entire balances, says RBI

In a sigh of relief for irked customers of New India Co-operative Bank, the RBI on Monday permitted withdrawals of up to Rs 25,000 per depositor from the accounts at the troubled co-operative lender,

In a move which can alleviate the concerns of many account holders, the Reserve Bank of India (RBI) has allowed depositors of New India Co-operative Bank Limited, Mumbai, to withdraw up to Rs 25,000 from their accounts.