The Reserve Bank of India (RBI) today barred depositors of the Kapol Co-operative Bank, Mumbai, from withdrawing more than Rs 3000 from their savings and current bank accounts.<br/>While placing the Kapol bank under directions, the RBI said the troubled co-operative bank will also not be able to grant or renew any loans or advances without prior approval in writing from the Reserve Bank. It said the bank will also not be able to make any investment, incur any liability including borrowal of funds and accept fresh deposits without RBIs approval.<br/><br/>Despite these fresh restrictions RBI said the latest notification should not be construed as cancellation of the bank's license. It said the Kapol bank will continue to undertake banking business with restrictions till its financial position improves.<br/><br/>The apex bank also said that it may consider modifications of these directions depending upon circumstances.