Bank Withdrawal

RBI imposes restrictions on Puducherry Co-op Urban Bank, caps withdrawals

The Reserve Bank on Wednesday imposed several restrictions on Puducherry Co-operative Urban Bank, including capping of withdrawals by a customer at Rs 5,000, in view of the deteriorating financial position of the lender. The restrictions will remain in force for six months from the close of business on Wednesday (October 21, 2026) and are subject to review, the Reserve Bank of India (RBI) said in a statement. Eligible depositors would be entitled to receive a deposit insurance claim amount of up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC). In the recent past, the central bank has engaged with the Board and Senior Management of Puducherry Co-operative Urban Bank for improvement in its functioning, RBI while issuing 'Directions' under relevant sections of the Banking Regulation Act, 1949. "However, lack of concrete efforts taken by the bank to address the supervisory concerns and protection of the interest of depositors of the bank have ...

Balancing Acts: What is the safe withdrawal rate from a retirement corpus?

At what rate should you withdraw money from your retirement corpus so as not to exhaust it prematurely? For a long time, financial planners in India have used the rule of thumb of 4%.

RBI curbs withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months

The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020

Banks, Post Offices can now check TDS rate on high value withdrawals

Explaining the details of this facility, the Central Board of Direct Taxes (CBDT) said that now the bank/post office has to only enter the PAN of the person who is withdrawing cash

YES Bank stock crash and financial mess: How the crisis unfolded in 2 years

Companies that failed to repay their loans to YES Bank include Dewan Housing Finance, Essel group, CG Power, the Anil Ambani group companies, and Videocon

RBI supersedes board of troubled YES Bank, sets Rs 50,000 withdrawal limit

Lender placed under moratorium; withdrawal capped at Rs 50,000; govt, central bank flag governance issues

Bank liable for unauthorised withdrawal even if no reply to SMS alert: HC

SMS alerts cannot be the basis to determine the liability of a customer, for there would be account holders who may not be in the habit of checking SMS alerts regularly, the Kerala High Court said

Ban on cash dealings not applicable for bank, post office withdrawals

A clarification on the newly inserted Section in the I-T Act says so