Divya Delhi: The Mumbai police launched a Rs 122 crore fraud case against the general manager and head of accounts of city-based New India Cooperative Bank, two days after the Reserve Bank of India (RBI) imposed restrictions on the bank for suspected financial irregularities. Ghosh added in his police report that Mehta and his accomplice were trustworthy bank officials who had custody of the cash in the vaults at the Prabhadevi and Goregaon offices. The Dadar police filed a FIR against Mehta under sections 316(5) (criminal breach of trust by a public officer or banker, merchant, broker, attorney or agent) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). Thousands of terrified depositors lined up outside bank branches to see if their funds were secure and accessible. The RBI's limitations prevent the bank from providing new loans, making investments, borrowing cash, or allowing withdrawals for six months due to worries over its financial viability. The RBI also replaced the bank’s board of directors for 12 months, citing “poor governance standards”. The RBI has designated Shreekant, a former chief general manager of the State Bank of India (SBI), as the administrator to run the bank’s business. The RBI announced that an advisory committee has been constituted to help him. The RBI ordered the loss-making bank not to grant or renew loans, invest, incur liabilities, borrow funds, accept new deposits, or disburse payments without prior written approval. The RBI limitations began after business on February 13 and last six months.