India's central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender.

The Reserve Bank of India (RBI) has imposed strict restrictions on Mumbai-based New India Co-operative Bank, barring it from issuing new loans, accepting fresh deposits, or allowing withdrawals for six months.

Projects FY26 inflation at 4.2%, GDP growth at 6.7%

The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions. High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth,

The Reserve Bank of India (NSE:BOI) (RBI) took action in the foreign exchange market this week to limit speculation in the rupee, an unexpected move that caught traders off guard who anticipated a more laissez-faire stance from the new governor,

The Reserve Bank of India intervened in the foreign exchange market this week to curb speculation in the rupee, according to a person familiar with the central bank’s thinking, surprising traders who expected a more hands-off approach on the currency from the new governor.

India's central bank on Wednesday surprised markets by announcing another liquidity infusion this week as it aims to inject funds in the banking system for the longer term. The Reserve Bank of India will conduct a 49-day variable rate repo for 750 billion rupees ($8.