Depositors Urge Revival of New India Bank

Quick summary

• Several depositors gathered outside new India Co-Operative Bank’s Vasant Vihar branch in Thane on Monday.
• They demanded urgent action for the revival or merger of the bank following Reserve Bank of India (RBI) restrictions imposed in February 2025.
• The protest, led by the bank’s depositors’ foundation, included individuals from Thane and Mumbai.
• Protesters stated that their savings have been inaccessible for over two months.
• depositors urged RBI to expedite measures for either reviving the bank or merging it with a stable financial institution.

Indian Opinion analysis
The depositor-led protest shines a light on larger concerns regarding cooperative banks’ stability and regulatory oversight in India’s financial sector. Cooperative banks frequently enough serve as critical institutions for small-scale depositors, and prolonged access restrictions can lead to significant financial distress among affected customers. The call for RBI intervention-via either revival efforts or facilitating mergers with well-established institutions-is an urgent reminder of the importance of swift regulatory action to safeguard public trust in finance systems while ensuring depositors’ interests are adequately protected.

Read more: Times of India