The Reserve Bank of India has issued requisitions to the Registrar of Cooperative Societies, (ROCs), Gujarat to wind up the following banks :

1. The General Cooperative Bank Ltd., Ahmedabad


2. The Janata Commercial Cooperative Bank Ltd., Dholka


3. Santram Cooperative Bank Ltd., Nadiad


4. The Bhavnagar Welfare Cooperative Bank Ltd., Bhavnagar

The requisitions have been made in terms of Section 115A(2) of the Gujarat Cooperative Societies Act, 1961, read with Section 13D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, as the banks have failed to comply with the requirements of the provisions of Sections 11(1), 22(3)(a) and 22(3)(b) of the Banking Regulation Act, 1949 (As applicable to Cooperative Societies) and the banks are unable to pay their debts.

As such, it will not be in order for these banks, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise. The Registrar of Cooperative Societies, Gujarat has since appointed liquidators for these banks.