Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra

RBI withdrew the All Inclusive Directions previously issued to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra. The bank is allowed to continue regular banking business.

The bank is no longer operating under the earlier Section 35A directions and may resume regular banking business from the stated effective time. Depositors and customers are no longer subject to the restrictions that had been imposed under the withdrawn order.

• sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)

RBI placed Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar under Section 35A directions restricting core banking activities. Withdrawals from deposit accounts were capped at Rs. 1,000.

The bank must operate under strict RBI controls and cannot undertake normal lending, deposit-taking, payment, or asset-disposal activities without prior approval. Depositors are affected by the withdrawal cap, and the restrictions remain in force until RBI modifies them based on the bank’s financial condition. The action does not cancel the licence, but it materially curtails day-to-day banking operations.

• Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 56 of the Banking Regulation Act, 1949