Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh)

RBI extended its existing Section 35A directions on Gomati Nagariya Sahakari Bank Ltd., Jaunpur for another six months. The order continues the bank’s operating restrictions through May 10, 2019, subject to review.

The bank remains subject to RBI’s existing operating directions through May 10, 2019 unless modified earlier on review. This continues restrictions on the bank’s activities and affects customers and counterparties dealing with the bank under the ongoing regulatory conditions.

• Section 35A of the Banking Regulation Act, 1949 (AACS)

RBI extended its existing Section 35A directions on Gomti Nagariya Sahakari Bank Ltd., Jaunpur for another four months. The directive’s terms were unchanged.

The bank remains under the same RBI operational restrictions through November 10, 2018 unless the directive is modified or withdrawn. Customers and depositors continue to be subject to the constraints imposed by the existing Section 35A order; the release does not indicate any relaxation.

• Section 35A of the Banking Regulation Act, 1949 (AACS)

RBI partially relaxed the operating restrictions on Gomati Nagariya Sahakari Bank Ltd., Jaunpur, allowing limited depositor withdrawals up to ₹30,000. The rest of the Section 35A directions remain unchanged.

Depositors got limited relief through a cap on withdrawals of up to ₹30,000 per depositor, subject to conditions in the modified directive. The broader restrictions under the existing Section 35A directions continue to apply to the bank until further modification by RBI.

• Section 35A of the Banking Regulation Act, 1949 (AACS)

RBI placed Gomti Nagariya Sahkari Bank Ltd., Jaunpur under restrictive Section 35A directions. The bank’s lending, investments, fresh deposits, and most liabilities/payments were curtailed, with withdrawals capped at ₹1,000 per account.

The bank must operate under RBI-imposed restrictions for six months from July 10, 2017 unless modified earlier. Depositors face a withdrawal cap of ₹1,000 per account (subject to adjustments), while the bank cannot expand credit, take fresh deposits, or incur new liabilities without RBI approval. Existing term deposits may be renewed, and only permitted expenditures/investments in government or SLR-approved securities are allowed.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949