--- title: "Siddartha Karnani on RBI’s Halt of New India Co-op Bank: Key Steps to Secure Savings" date: 2025-02-20 author: "King Stubb & Kasiva" url: https://ksandk.com/news/siddartha-karnani-on-rbis-halt-of-new-india-co-op-bank-key-steps-to-secure-savings/ --- # Siddartha Karnani on RBI’s Halt of New India Co-op Bank: Key Steps to Secure Savings Posted On - 20 February, 2025 • By - King Stubb & Kasiva ![Siddartha Karnani on RBI’s Halt of New India Co-op Bank: Key Steps to Secure Savings](https://ksandk.com/wp-content/uploads/Website-PR-update-6-2.png) In light of the **Reserve Bank of India’s (RBI) decision to halt the operations of New India Co-operative Bank**, **Siddartha Karnani**outlined essential measures for affected customers to safeguard their savings. ![Website PR update 6 2](https://ksandk.com/wp-content/uploads/Website-PR-update-6-2.png) Karnani emphasized the importance of staying **calm and patient**, stating that panic-induced decisions could lead to financial missteps. Instead, customers should adopt a **well-informed and calculated approach** to minimize the impact on their personal finances. He advised customers to **stay vigilant and closely monitor updates from the RBI and the bank** regarding the next steps. He also highlighted the **Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme**, which insures deposits up to **₹5 lakh per depositor per bank**, urging customers to assess their exposure accordingly. To ensure financial stability, he recommended that customers **open an account with another financially stable bank**, diversify their savings, and redirect salary credits and payments. Additionally, he stressed the need to **secure immediate liquidity** through alternative sources such as **personal loans or credit lines** to manage potential cash flow disruptions. Read more: [https://www.business-standard.com/finance/personal-finance/rbi-halts-new-india-co-op-bank-operations-how-to-secure-your-savings-125021900657_1.html](https://www.business-standard.com/finance/personal-finance/rbi-halts-new-india-co-op-bank-operations-how-to-secure-your-savings-125021900657_1.html) --- ## Office Locations - [New Delhi](https://ksandk.com/locations/top-corporate-law-firm-in-delhi/) (HQ): +91-11-41318190 | info@ksandk.com - [Mumbai](https://ksandk.com/locations/top-corporate-law-firm-in-mumbai/): 3 offices (Nariman Point, Lower Parel, Andheri) | mumbai@ksandk.com - [Bangalore](https://ksandk.com/locations/top-corporate-law-firm-in-bangalore/): bangalore@ksandk.com - [Chennai](https://ksandk.com/locations/chennai/): chennai@ksandk.com - [Hyderabad](https://ksandk.com/locations/hyderabad/): hyderabad@ksandk.com - [Pune](https://ksandk.com/locations/pune/): pune@ksandk.com - [Kochi](https://ksandk.com/locations/kochi/): kochi@ksandk.com ## Contact - [Contact Page](https://ksandk.com/contact-us/) - General: info@ksandk.com | +91-11-41318190 - WhatsApp: +91-7428567444 - [Privacy Statement](https://ksandk.com/privacy-statement/) - [Terms of Use](https://ksandk.com/terms-of-use/)