Customers of New India Co-operative Bank are in a state of shock and panic after the Reserve Bank of India (RBI) closed its operations in an overnight order on Thursday. On Friday morning, scores of depositors rushed to several branches of the bank across Mumbai to access their accounts, where the respective managers informed them that they cannot withdraw their money until the central bank’s further directive. 

mid-day.com spoke to some of the aggrieved customers of the bank outside the Santacruz (East) branch. Depositors, mostly from the middle and lower-income groups, revealed their heart-wrenching ordeal, as they were left completely blindsided by the sudden action taken against the bank. From taking care of ailing family members to paying the bills of school-going kids, customers are now worried about the future of their families, as for many, this was the only bank where they had deposited their salaries and life savings. The angry depositors are demanding their money back and questioned if RBI will take care of their expenses for as long as the bank’s operations are stopped.