India, March 11 -- The Reserve Bank of India (RBI) has placed operational restrictions on The U.P. Civil Secretariat Primary Cooperative Bank Limited under provisions of the Banking Regulation Act.
In a notification issued on March 11, 2026, the RBI directed that the Lucknow-based cooperative bank shall not grant or renew loans and advances, make investments, incur liabilities, borrow funds, accept fresh deposits, or disburse payments without prior written approval of the central bank. The bank has also been barred from entering into compromise settlements or disposing of its assets except as permitted under specific RBI directions.
Considering the bank's liquidity position, the regulator has instructed it to suspend withdrawals from savi...