Key Details Institution: New India Co-operative Bank Ltd., Mumbai Action: Excluded from the Second Schedule to the RBI Act, 1934 Notification: CO.DOR.RAUG.No.S7907/08.27.498/2025-26 (Jan 06, 2026) Context: Administrative closure following the August 2025 amalgamation with Saraswat Co-operative Bank Ltd. Root Cause Analysis (RCA) Internal Fraud: A ₹122 crore embezzlement scam executed by top management over five […]