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RBI has imposed severe restrictions (moratorium) on the Nagpur Mahila Nagarik Sahakari Bank Ltd permitting withdrawals of only Rs 1,000 per person.

The bank can also not accept deposit except of loan overdues nor can it give fresh loans. The bank cannot incur any expenditure without RBIís permission.

The bank had deposits of Rs 132 crore last financial year and advances of Rs 95 crore. The Mahila Bank has a total loan outstandings of Rs 78 crore, of which 45 per cent are bad loans. It has over 70,000 deposit accounts, 75 per cent of which have an amount of less than Rs 1 lakh.

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