{"id":82538,"date":"2022-01-31T06:26:43","date_gmt":"2022-01-31T00:56:43","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=82538"},"modified":"2022-09-15T15:41:50","modified_gmt":"2022-09-15T10:11:50","slug":"rbi-imposes-restrictions-on-lucknow-based-indian-mercantile-cooperative-bank-ltd-with-a-withdrawal-cap-of-rs-1-lakh-for-six-months","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-imposes-restrictions-on-lucknow-based-indian-mercantile-cooperative-bank-ltd-with-a-withdrawal-cap-of-rs-1-lakh-for-six-months\/","title":{"rendered":"RBI imposes restrictions on Lucknow-based Indian Mercantile Cooperative Bank Ltd with a withdrawal cap of Rs 1 lakh for six months"},"content":{"rendered":"\n<p>The Reserve Bank on January 28, 2022 said it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of \u20b9 1 lakh on withdrawals. The restrictions came into force from closure of business hours on January 28, 2022. The restrictions would remain in force for six months.<\/p>\n\n\n\n<p>The withdrawal limit has been fixed at a sum not exceeding&nbsp;<strong>Rs.&nbsp;100,000<\/strong>&nbsp;of the total balance across all savings bank or current accounts or any other account of a depositor. RBI has imposed the above restrictions in the exercise of powers vested in it under<strong>&nbsp;subsection (1) of Section 35 A read with Section 56 of the Banking Regulation Act (AACS), 1949<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank on January 28, 2022 said it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of \u20b9 1 lakh on withdrawals. The restrictions came into force from closure of business hours on January 28, 2022. The restrictions would remain in force for six months. The withdrawal limit [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":82542,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2794],"tags":[74,1441],"offerexpiration":[],"class_list":["post-82538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-january-2022","tag-bank-current-affairs","tag-reserve-bank-of-india"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/82538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=82538"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/82538\/revisions"}],"predecessor-version":[{"id":82543,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/82538\/revisions\/82543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/82542"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=82538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=82538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=82538"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=82538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}