Jammu News: Crisis on savings of 36 thousand account holders, appeal to the government – Business News

Appeal to Chief Minister and Lieutenant Governor for intervention, demand to find solution to the problem within stipulated time.

Amar Ujala Bureau

Jammu. Depositors who are not able to utilize their entire amount deposited in Jammu Citizen Cooperative Bank have demanded relief from the government. In the meeting held on Thursday amid restrictions of the Reserve Bank of India (RBI) on the bank, depositors expressed concern about the savings of about 36 thousand people. He appealed to the Center and Jammu and Kashmir Government to intervene in the matter and resolve their problems and resolve the bank’s problem in due time.

In the meeting, SK Sharma demanded the government to take concrete steps to protect the depositors’ money and provide them relief. Aditya Mangotra appealed to the Chief Minister to personally intervene in the matter. Sanjay Sarang urged the Lieutenant Governor to resolve the problems of the depositors. Depositors say that people had deposited money in the bank for their needs and future. Due to the current restrictions, they are not able to use their entire deposited amount.

—–

Permission to withdraw up to Rs 1.25 lakh from accounts

RBI had issued instructions on 25 August 2026 and imposed restrictions on the functioning of the bank from 27 August. Under these instructions, account holders can withdraw a maximum of Rs 1.25 lakh from their accounts. Without the written approval of RBI, the bank cannot do things like giving new loans and accepting new deposits. These instructions have been implemented for six months and are subject to review. Under RBI rules, eligible depositors can get protection up to a maximum of Rs 5 lakh per bank through deposit insurance. However, for this it is necessary to complete the prescribed procedure.