The minimum paid-up voting equity capital or net worth requirement has been set at Rs 200 crore, up from Rs 100 crore as set earlier.

Rate was cut due to slowdown, fall in investments.

The bank’s Managing Director Joy Thomas has also been suspended effective Wednesday.

The RBI was founded in 1935 and has been operating according to the Reserve Bank of India Act of 1934.

RBI underscores worries about near 5-year low economic growth pace.

The RBI decided to raise a bank’s exposure to a single NBFC to 20 per cent of Tier-I capital.