The Gujarat Rajya Karmachari Co-op. Bank Ltd

RBI has extended its existing Directions for The Gujarat Rajya Karmachari Co-op. Bank Ltd., Ahmedabad by three months. The terms remain unchanged and the directive now runs until close of business on December 11, 2026.

The bank remains under the same operating conditions as before, with the directive continuing through December 11, 2026 subject to review. Depositors, borrowers, and counterparties are affected only to the extent of the unchanged restrictions already imposed by the existing directions.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949

RBI placed The Gujarat Rajya Karmachari Co-op. Bank Ltd., Ahmedabad under Section 35A Directions curbing lending, investments, liabilities, fresh deposits, and withdrawals. The order was issued to address supervisory concerns and protect depositors.

The bank must operate under RBI-prescribed constraints for six months from March 11, 2026, unless modified earlier. Depositors face withdrawal restrictions, while the bank cannot expand lending, investments, liabilities, or accept fresh deposits without prior approval; only limited essential expenses and permitted set-offs are allowed.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS)
• DICGC Act, 1961