Date: 2025-12-09Category: Not ApplicableState: Union GovernmentCountry: India
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Nasik Jilha Mahila Vikas Sahakari Bank Ltd., Nasik
**Executive Summary**
This press release, dated December 09, 2025, announces directions issued by the Reserve Bank of India (RBI) to Nasik Jilha Mahila Vikas Sahakari Bank Ltd., Nasik, under Section 35 A read with section 56 of the Banking Regulation Act, 1949. Effective December 09, 2025, the bank faces restrictions on its operations. These directions are effective for six months and are subject to review.
**Key Points / Main Content**
* **RBI Directions:**
* The RBI issued directives to Nasik Jilha Mahila Vikas Sahakari Bank Ltd. on December 08, 2025, which are to be displayed on the bank's website/premises.
* **Operational Restrictions (Effective December 09, 2025):**
* The bank cannot grant or renew loans and advances without prior RBI approval.
* The bank cannot make investments or incur liabilities, including borrowing funds and accepting fresh deposits.
* The bank cannot disburse payments, enter into compromises, or dispose of assets without RBI approval, except as notified in the RBI Direction.
* **Withdrawal Limit:**
* Depositors can withdraw up to ₹35,000 from their savings, current, or other accounts.
* Loans can be set off against deposits.
* **Permissible Expenditures:**
* The bank can incur expenditures on essential items like employee salaries, rent, and electricity bills, as specified in the RBI Directions.
* **Deposit Insurance:**
* Eligible depositors can claim deposit insurance up to ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
* Claims are applicable based on the DICGC Act, 1961, and submission of willingness by depositors, subject to verification.
* Depositors can contact bank officials or visit www.dicgc.org.in for details.
* **License Status:**
* The RBI directions are not a cancellation of the bank's banking license.
* The bank will continue to operate with the specified restrictions until its financial position improves.
* **RBI Monitoring:**
* The RBI will continue to monitor the bank and take necessary actions, including modifications to the directions, as warranted.
* **Duration of Directions:**
* These directions remain in force for six months from December 09, 2025, and are subject to review.
**Impact Analysis**
**Stakeholder: Nasik Jilha Mahila Vikas Sahakari Bank Ltd.**
* **Impact:** The bank's operations are significantly restricted, impacting its ability to conduct normal banking activities.
* **Action Required:** The bank must adhere to the RBI directions and display the directions on its website/premises. It must also cooperate with the RBI to improve its financial position.
**Stakeholder: Depositors of Nasik Jilha Mahila Vikas Sahakari Bank Ltd.**
* **Impact:** Depositors face restrictions on withdrawals and potential delays in accessing their funds. However, they are protected by deposit insurance up to ₹5,00,000.
* **Action Required:** Depositors should contact the bank for further information and, if eligible, file for deposit insurance with DICGC after submitting their willingness and successful verification.
**Stakeholder: Employees of Nasik Jilha Mahila Vikas Sahakari Bank Ltd.**
* **Impact:** The bank may incur expenditure in respect of certain essential items such as salaries of employees.
* **Action Required:** No direct action required from the press release.
Key Entities Referenced
Banking Regulation Act, 1949: Indian law that regulates the banking sector; sections 35A and 56 are relevant to the directives issued.
Reserve Bank of India (RBI): India's central bank, issuing directions to Nasik Jilha Mahila Vikas Sahakari Bank Ltd. under the Banking Regulation Act, 1949.
Nasik Jilha Mahila Vikas Sahakari Bank Ltd., Nasik: The cooperative bank subject to the directions issued by the RBI.
Deposit Insurance and Credit Guarantee Corporation (DICGC): Institution insuring bank deposits up to ₹5,00,000/-.
DICGC Act, 1961: The governing act that establishes the Deposit Insurance and Credit Guarantee Corporation.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
December 09, 2025
Directions under Section 35 A read with section 56 of the Banking Regulation
Act, 1949 (As Applicable to Co-operative Societies) – Nasik Jilha Mahila Vikas
Sahakari Bank Ltd., Nasik
It is hereby notified for the information of the public that in exercise of powers vested
in it under sub-section (1) of Section 35 A of the Banking Regulation Act, 1949, read
with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI)
vide Directive No. CO.DOS.SED.No.S6690/12-22-173/2025-2026 dated December
08, 2025, has issued certain Directions to Nasik Jilha Mahila Vikas Sahakari Bank
Ltd., Nasik (“the bank”), whereby, as from the close of business on December 09,
2025, the bank shall not, without prior approval of RBI in writing, grant or renew any
loans and advances, make any investment, incur any liability including borrowal of
funds and acceptance of fresh deposits, disburse or agree to disburse any payment
whether in discharge of its liabilities and obligations or otherwise, enter into any
compromise or arrangement and sell, transfer or otherwise dispose of any of its
properties or assets except as notified in the RBI Direction dated December 08, 2025,
a copy of which has been directed to be displayed on the bank's website/premises for
perusal by interested members of the public. Considering the bank's present liquidity
position, the bank has been directed to permit withdrawal of a sum not exceeding
₹35,000/- (Rupees Thirty-five Thousand only) of the total balance held in savings
bank or current accounts or any other account of a depositor but is allowed to set off
loans against deposits subject to the conditions stated in the above RBI Directions.
The bank may incur expenditure in respect of certain essential items such as salaries
of employees, rent, electricity bills, etc., as specified in the said Directions.
2. These Directions are necessitated due to supervisory concerns emanating from the
recent material developments in the bank, and to protect the interests of depositors of
the bank.
3. The eligible depositors would be entitled to receive deposit insurance claim amount
of their deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) in the
same capacity and in the same right, from the Deposit Insurance and Credit Guarantee
Corporation (DICGC), as applicable under the provisions of the DICGC Act, 1961,
based on submission of willingness by the depositors concerned and after due
verification. The depositors may contact the bank officials for further information.
Details may also be accessed on the DICGC website: www.dicgc.org.in.
4. The issue of the above Directions by the RBI should not per se be construed as
cancellation of the banking license by the RBI. The bank will continue to undertake
banking business subject to restrictions specified in the said Directions till its financial
position improves. The RBI continues to monitor the position of the bank and will take
necessary actions including modifications of these Directions, as warranted,
depending upon circumstances and in the interest of the depositors.5. These Directions shall remain in force for a period of six months from the close of
business on December 09, 2025 and are subject to review.
(Brij Raj)
Press Release: 2025-2026/1669 Chief General Manager