RBI press-release 2026-2027/705 · 17 Jul 2026
Official title
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd. Nashik
Summary
Check the official recordThe Reserve Bank of India has issued regulatory directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, effective from the close of business on July 17, 2026. These measures, imposed due to supervisory concerns, restrict the bank from granting loans, making investments, incurring liabilities, or accepting fresh deposits without prior written approval. The bank is permitted to allow depositor withdrawals up to ₹1,00,000 and may incur specific essential expenditures. Eligible depositors may claim insurance up to ₹5,00,000 from the DICGC. These directions remain in force for six months and do not constitute a cancellation of the banking license; the bank continues to operate under these restrictions while the RBI monitors its financial position.
What you must do
Key dates
Who is affected
Thresholds
Exceptions
If you do not comply
July 17, 2026
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd. Nashik
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 Ref. No. CO.DOS.SED.No.S2909/12-22-395/2026-2027 dated July 16, 2026, has issued certain Directions to Padmashri Dr. Vithalrao Vikhe Patil Co- operative Bank Ltd. Nashik (“the bank”), whereby, as from the close of business on July 17, 2026, 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 July 16, 2026, 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 ₹1,00,000/- (Rupees One Lakh only) from 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.
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.
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.
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.
These Directions shall remain in force for a period of six months from the close of business on July 17, 2026, and are subject to review.
(Brij Raj) Press Release: 2026-2027/705 Chief General Manager
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ǐरज़वर् बैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार ͪ वभाग, केंद्रȣय कायार्लय, शहȣद भगत ͧ संह मागर्, फोटर्, मुंबई - 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
