<p>The Reserve Bank has imposed several restrictions, including on the withdrawal of funds, on three cooperative banks in view of their deteriorating financial condition.</p>.<p>With imposition of restrictions on Jaiprakash Narayan Nagari Sahakari Bank, Basmatnagar, depositors will not be able to withdraw funds from their accounts, the central bank said in a statement.</p>.<p>In another statement, it said that depositors of The Karmala Urban Co-operative Bank, Solapur, can only withdraw up to Rs 10,000 from their accounts.</p>.<p>The RBI has also imposed restrictions on Durga Co-operative Urban Bank, Vijayawada. Its customers can withdraw up to Rs 1.5 lakh from their deposits.</p>.<p>The restrictions imposed on the three banks under the Banking Regulation Act, 1949 the Reserve Bank would remain in force for six months and are subject to review.</p>.<p>As part of the restrictions, the two cooperative banks cannot grant loans, make any investment, incur any liability -- including borrowal of funds and acceptance of fresh deposits, disburse or dispose of properties or assets.</p>.<p>The RBI said the issue of directions to the three lenders should not per se be construed as cancellation of banking license.</p>.<p>The banks will continue to undertake banking business with restrictions till their financial position improves. </p>
<p>The Reserve Bank has imposed several restrictions, including on the withdrawal of funds, on three cooperative banks in view of their deteriorating financial condition.</p>.<p>With imposition of restrictions on Jaiprakash Narayan Nagari Sahakari Bank, Basmatnagar, depositors will not be able to withdraw funds from their accounts, the central bank said in a statement.</p>.<p>In another statement, it said that depositors of The Karmala Urban Co-operative Bank, Solapur, can only withdraw up to Rs 10,000 from their accounts.</p>.<p>The RBI has also imposed restrictions on Durga Co-operative Urban Bank, Vijayawada. Its customers can withdraw up to Rs 1.5 lakh from their deposits.</p>.<p>The restrictions imposed on the three banks under the Banking Regulation Act, 1949 the Reserve Bank would remain in force for six months and are subject to review.</p>.<p>As part of the restrictions, the two cooperative banks cannot grant loans, make any investment, incur any liability -- including borrowal of funds and acceptance of fresh deposits, disburse or dispose of properties or assets.</p>.<p>The RBI said the issue of directions to the three lenders should not per se be construed as cancellation of banking license.</p>.<p>The banks will continue to undertake banking business with restrictions till their financial position improves. </p>