Case Brief
RBI notified a partial modification of its earlier directive for Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh). The modification allows a depositor to withdraw up to ₹30,000, subject to specified conditions, while keeping all other provisions of the earlier directive dated July 03, 2017 unchanged. The bank remains under Section 35A directions, which were first made effective from close of business on July 10, 2017 and later extended until July 10, 2018 through a directive dated January 08, 2018. RBI stated that the relaxation was intended to reduce hardship to depositors and should not be interpreted as reflecting any change in the bank’s financial position.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Co-operative bank
- Location
- Jaunpur, Uttar Pradesh