Reserve Bank on Thursday said it has imposed several restrictions, including withdrawal of funds, on two Uttar Pradesh-based Cooperative bank In view of their deteriorating economic condition. there are two lenders Lucknow Urban Co-Operative Bank And Urban Co-Operative Bank LimitedSitapur.

The restrictions under the Banking Regulation Act will remain in force for six months.

Lucknow Urban Co-operative Bank customers will not be able to withdraw more than Rs 30,000 reserve Bank of India Statement.

In case of Urban Co-operative Bank, the withdrawal limit is Rs 50,000 per customer, it said in another statement.

Both banks cannot make loans, make any investments, undertake any obligations – including borrowing money and accepting new deposits, distributing or disposing of assets or assets – without the permission of the RBI.