RBI Curbs Nashik Bank: No Withdrawals, Loans for 6 Months; Is Your Money Safe?

• RBI imposed strict restrictions on Loknete R.D. Kshirsagar Sahakari Bank, Nashik, due to supervisory deficiencies.
• Customers cannot withdraw money from any accounts; new loans, investments, and payments are also banned.
• Bank can cover day-to-day expenses like salaries and adjust loans against deposits under specific conditions.
• Depositors are protected by DICGC insurance up to ₹5 lakh for eligible account holders.
• Restrictions are for six months, effective after December 16, 2025, and do not mean license cancellation.

Why It Matters: RBI restricts Nashik's Loknete R.D. Kshirsagar Sahakari Bank, limiting withdrawals but protecting depositors.