Dilip Urban Co-operative Bank Ltd., Barshi, Solapur

With effect from close of business on August 8, 2014, RBI issued directions to Dilip Urban Co-operative Bank Ltd., Barshi, Solapur, Maharashtra under Section 35A of the Banking Regulation Act, 1949 (read with Section 56). The bank was restricted from allowing withdrawals beyond Rs 1,000 per savings/current/other deposit account, and was also restrained from granting or renewing loans and advances, making investments, incurring liabilities including borrowings and acceptance of fresh deposits, disbursing payments, entering into compromises/arrangements, and selling/transferring/disposing of properties or assets except with prior written RBI approval or as notified in the cited directions.

Depositors can withdraw only up to Rs 1,000 from each savings, current, or other deposit account unless RBI permits otherwise. The bank cannot freely lend, invest, raise funds, accept fresh deposits, or dispose of assets/properties without prior RBI approval, so normal business operations are significantly constrained until the directions are modified.