..............This follows a long-drawn battle by RBI to put things in order in the bank’s working since 2002. Operations at the 101-year-old cooperative bank with 40 branches across Maharashtra, with about eight lakh account holders and 50,000 members, came to a halt with account- holders hitting the panic button. “We got a letter hand-delivered from RBI at 10.30 this morning saying that these restrictions are being imposed under Section 35A of the Banking Regulations Act of 1949,” ............
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