business π¦ RBI freezes withdrawals at Ashok Sahakari Bank
The Reserve Bank of India (RBI) imposed strict limitations on Ashok Sahakari Bank Ltd. in Ahmednagar due to serious supervisory issues and poor liquidity. Effective August 28, 2026, the bank cannot allow customers to withdraw from any deposit account without RBI's approval. The bank is also blocked from giving loans, making investments, or accepting new deposits. These restrictions stem from the bank's failure to address supervisory concerns despite prior management discussions. The limitations will last for six months from August 28, 2026, pending review. π¦