Ahmedabad: The Reserve Bank of India (RBI) has imposed restrictions on Gujarat Rajya Karmachari Co-operative Bank in the city, citing concerns over the bank’s financial condition and liquidity position. The directions came into effect from the close of business on March 11, 2026, under provisions of the Banking Regulation Act, 1949. According to the RBI order, the bank will not be allowed to grant or renew loans, make investments, borrow funds, accept fresh deposits, or sell any assets with...Read More

Gandhinagar: The nationwide financial awareness campaign under the tagline ‘Your Money, Your Right’ was launched in Gandhinagar in October 2025 in the presence of Union Finance Minister Nirmala Sitharaman. Under the campaign, an amount of Rs 104.61 crore, representing citizens’ rightful savings, has been returned in Gujarat as of December 31, 2025, a government press release said. A total of 26,874 claims were filed in the state from the launch of the campaign until December 2025. After v...Read More

Ahmedabad: HDFC Bank today announced the integration of the Reserve Bank of India’s Central Bank Digital Currency (CBDC), the Digital Rupee (e₹), into its online merchant payment platform, SmartGateway. This integration enables merchants to offer customers a secure, zero-cost, and sovereign-backed digital payment option within the HDFC Bank checkout ecosystem. With this enhancement, SmartGateway merchants can now accept payments via the Digital Rupee at zero transaction cost, alongside exis...Read More

Gandhinagar: Chief Minister Bhupendrabhai Patel today chaired the meeting of the state cabinet in the state capital, during which in-principle approval was granted for the formation of nine new District Central Cooperative Banks in Gujarat. Addressing the media after the meeting, government spokesperson and Minister Jitubhai Vaghani said the decision aligns with the Centre’s push to strengthen the rural cooperative banking network across the country. He noted that Prime Minister Narendra Modi...Read More

Mumbai: The Reserve Bank of India (RBI) on Thursday imposed a series of regulatory restrictions on Valsad-based The Valsad Mahila Nagrik Sahakari Bank, including a complete ban on customer withdrawals, citing the lender’s weak financial health. The restrictions, issued in the form of regulatory Directions, will remain in force for six months from the close of business on Thursday. Under the Directions, the bank is prohibited from granting or renewing loans, making investments, incurring fresh...Read More

Ahmedabad: The Reserve Bank of India (RBI) has approved the voluntary amalgamation of two sets of co-operative banks in Gujarat, effective December 15, 2025. In the first case, The Amod Nagric Co-operative Bank Ltd., Amod will merge with The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad. Following the amalgamation, all branches of Amod Nagric Co-operative Bank will operate as branches of Bhuj Mercantile Co-operative Bank. Separately, Amarnath Co-operative Bank Ltd., Ahmedabad will merge wi...Read More

Patan: The Reserve Bank of India (RBI) has, by an order dated September 30, 2025, imposed a monetary penalty of ₹3 lakh on The Ranuj Nagrik Sahakari Bank Limited, in Patan, for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’ and ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorized Electronic Banking Transactions’. The statutory inspection of the bank was conducted by the RBI with reference to its finan...Read More

Vadodara: The Reserve Bank of India (RBI), through an order dated September 22, 2025, imposed a monetary penalty of ₹2 lakh on Makarpura Industrial Estate Co-operative Bank Ltd for non-compliance with directions on Know Your Customer (KYC) and the Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) read with the Comprehensive Cyber Security Framework for UCBs – A Graded Approach. A statutory inspection of the bank was carried out by RBI with reference to its financia...Read More

Ahmedabad: The Reserve Bank of India (RBI), by an order dated September 17, 2025, has imposed a monetary penalty of ₹23,000 on The Ahmedabad Mercantile Co-operative Bank Limited for non-compliance with certain RBI directions on “Membership of Credit Information Companies by Co-operative Banks.” The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and re...Read More

Surat: The Reserve Bank of India (RBI), by an order dated August 28, 2025, has imposed a monetary penalty of ₹18.30 lakh (Rupees Eighteen Lakh Thirty Thousand only) on The Surat People’s Co-operative Bank Limited, Surat, for non-compliance with RBI directions on “Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs.” The penalty has been imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulat...Read More