The Punjab & Maharashtra Co-operative Bank has been put under restrictions by the Reserve Bank of India (RBI) following the discovery of a Rs 4,355-crore scam.
The meeting with Das, deputy governor and other senior officials of the Central bank came after police authorities confirmed the death of one more depositor, Fattomal Punjabi (61) due to natural causes.
Lending growth by banks had nearly halved to 8.8% at the end-September from the start of the year.
The minimum net worth for entities desirous of entering the WLA segement should be Rs 100 crore.
That the Central Bank has halted the printing of high value bank notes was conveyed by the Reserve Bank of India (RBI) in a response to an RTI query.
On October 14, Sanjay Gulati, another distressed depositor of the PMC bank, succumbed to a heart attack.
The union also said RBI should carry out onsite supervision of all cooperative banks instead of the present annual offsite supervision.
Some analysts also wonder if the economy is headed towards "stagflation", which is characterised by persistently high inflation and low economic and jobs growth.
The co-operative banking system came into being with the aim to promote saving and investment habits among people, especially in rural parts of the country.
Retail food prices, which make up nearly half of India's inflation basket, increased 5.11% in September from a year earlier, compared with 2.99% in August.
The audit committee of the board of banks shall review the compliance to the above conditions on a half yearly basis, it said.
In a similarly worded release, it said a monetary penalty of Rs 75 lakh has been imposed on Syndicate Bank for non-compliance with the directions issued by RBI on frauds classification and reporting; innovative housing loan products wherein upfront disbursal of loans is done.
The increase in reserves in the reporting week was on account of rise in foreign currency assets (FCA), a major component of the overall reserves.
During the reporting month, the Central bank had purchased $615 million and sold $4.687 billion in the spot market.
The meeting of the central board, held in Chandigarh, came a day after Finance Minister Nirmala Sitharaman announced setting up of a panel to recommend legislative changes to ensure better governance at cooperative banks.
The bank's board and shareholders approved setting off accumulated losses of Rs 7,360.29 crore as of March 31, 2019, against the balance lying in share premium account and revenue reserve account of bank as on date of set-off.
The external debt figures stood at $557.4 billion as of June this year, as against $471.9 billion at the end of March 2017, as per RBI numbers.
The increase in reserves in the reporting week on account of foreign currency assets (FCA), a major component of the overall reserves.
The RBI lowered the key rates by a widely expected 0.25 percent citing more headwinds to growth and affirmed support to do more heavy lifting if inflation supports.
Das said the government has several sources of revenue to meet the fiscal target.
'It is a significant and welcome move by the Reserve Bank of India (RBI)... to boost the credit flow and spur the economic growth of the country,' said Confederation of Real Estate Developers Association of India (Credai) National Chairman, Jaxay Shah.
In its fourth bi-monthly meeting for 2019-20 on October 4, the Reserve Bank of India's Monetary Policy Committee (MPC) slashed the repo rate by another 25 bps.
Markets will keenly await the MPC decision and seek a reason to celebrate the festivities well in advance.
The government appointed Kotak to head the lender's board, which will help the troubled company come out of difficulties, after the state took over the board.
While HDFC Bank took to Twitter to respond to a user's concern, Kotak Mahindra Bank informed a customer who faced the issue that the problem was due to a technical fault, and apologised for the same.