It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive No. CO.DOS.SED.No.S6690/12-22-173/2025-2026 dated December 08, 2025, has issued certain Directions to Nasik Jilha Mahila Vikas Sahakari Bank Ltd., Nasik (“the bank”), whereby, as from the close of business on December 09, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated December 08, 2025, a copy of which has been directed to be displayed on the bank's website/premises for perusal by interested members of the public. Considering the bank's present liquidity position, the bank has been directed to permit withdrawal of a sum not exceeding ₹35,000/- (Rupees Thirty-five Thousand only) of the total balance held in savings bank or current accounts or any other account of a depositor but is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions. The bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc., as specified in the said Directions. 2. These Directions are necessitated due to supervisory concerns emanating from the recent material developments in the bank, and to protect the interests of depositors of the bank. 3. The eligible depositors would be entitled to receive deposit insurance claim amount of their deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation (DICGC), as applicable under the provisions of the DICGC Act, 1961, based on submission of willingness by the depositors concerned and after due verification. The depositors may contact the bank officials for further information. Details may also be accessed on the DICGC website: www.dicgc.org.in. 4. The issue of the above Directions by the RBI should not per se be construed as cancellation of the banking license by the RBI. The bank will continue to undertake banking business subject to restrictions specified in the said Directions till its financial position improves. The RBI continues to monitor the position of the bank and will take necessary actions including modifications of these Directions, as warranted, depending upon circumstances and in the interest of the depositors. 5. These Directions shall remain in force for a period of six months from the close of business on December 09, 2025 and are subject to review. (Brij Raj)
Chief General Manager Press Release: 2025-2026/1669 |