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During an RBI inspection on February 12, Rs 112 crore was found missing from the bank's Prabhadevi branch, and an additional Rs 10 crore from the Goregaon branch’s safe.

The DICGC acts as a crucial safeguard in this scenario, ensuring that depositors of the New India Co-operative Bank are not left entirely out of pocket

As the investigation into the New India Co-operative Bank scam intensifies, more details have emerged. The Reserve Bank of India (RBI) was aware of the irregularities at the bank since May 2021, yet it failed to prevent the misappropriation of Rs 122 crore,