India, March 11 -- The Reserve Bank of India (RBI) has imposed strict operational restrictions on The Gujarat Rajya Karmachari Co-operative Bank Ltd., Ahmedabad, under provisions of the Banking Regulation Act.
In a notification issued on March 11, 2026, the RBI said the bank will not be allowed to grant or renew loans and advances, make investments, incur liabilities, borrow funds, accept fresh deposits, or disburse payments without prior written approval from the central bank. The bank is also barred from entering into compromise settlements or selling and transferring assets, except as permitted under specific RBI directions.
Considering the bank's current liquidity position, the RBI has directed it to suspend withdrawals from savings, ...