Regulatory Alerts2026-08-27
Added
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – Desaiganj Nagari Cooperative Bank Maryadit, Desaiganj
From the close of business on August 27, 2026, Desaiganj Nagari Cooperative Bank Maryadit is prohibited from granting loans, making investments, incurring liabilities, accepting fresh deposits, disbursing payments, or disposing of assets without prior written approval of the Reserve Bank of India, and is barred from allowing withdrawals from savings, current, or other depositor accounts. The bank may incur expenditure for essential items such as salaries and rent, and may set off loans against deposits, while eligible depositors are entitled to receive insurance claim amounts up to ₹5,00,000/- from the Deposit Insurance and Credit Guarantee Corporation based on verification. These directions remain in force for six months from August 27, 2026, subject to review, and are not construed as cancellation of the banking license as the bank continues business under specified restrictions.
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