Regulatory Alerts2026-08-27
Added · Updated
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – The Citizens Co-operative Bank Ltd., Jammu
Effective from the close of business on August 27, 2026, The Citizens Co-operative Bank Ltd., Jammu shall not grant loans, make investments, incur liabilities, accept fresh deposits, or dispose of assets without prior written approval from the Reserve Bank of India. The bank is directed to allow withdrawal of ₹1,25,000/- from depositor accounts and may incur expenditure for essential items such as salaries and rent. Eligible depositors may receive insurance claims upto ₹5,00,000/- from the Deposit Insurance and Credit Guarantee Corporation upon verification, and these directions remain in force for six months from the close of business on August 27, 2026, subject to review, without constituting cancellation of the banking license.
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