JAMMU, October 6, 2026 – Struggling with the sudden regulatory restrictions imposed by the Reserve Bank of India (RBI), a worried delegation of account holders and depositors from the Citizens’ Cooperative Bank met with Jammu Chamber of Commerce & Industry (JCCI) President Arun Gupta at the Chamber House on Monday to seek his urgent intervention.
The anxious depositors highlighted their plight, explaining that they had securely parked their hard-earned savings in the cooperative bank for critical future needs, such as children’s education, upcoming marriages, and urgent medical treatments. However, the sudden freezing of transactions and severe withdrawal limits imposed by the RBI have not only triggered massive mental agony among account holders but have also crippled local businesses dependent on the bank’s services.
During the meeting, the delegation submitted a charter of demands urging the JCCI to push the administration for a clear, time-bound mechanism to access their funds. They pleaded for immediate emergency relief on humanitarian grounds for those facing medical or family crises and emphasized the need to protect the jobs of the bank’s employees. A crucial point raised by the depositors was the long-pending issue of land allotted to the bank by the Jammu Development Authority (JDA). They requested Gupta to raise this specific issue with the Chief Minister, as resolving it could significantly improve the bank’s Cash Reserve Ratio (CRR) and aid in its revival.
Assuring his full backing to the distressed account holders, JCCI President Arun Gupta described the current crisis as devastating for the economy of the Jammu region. While he acknowledged the regulatory framework mandated by the RBI, he noted that the abrupt restrictions have fueled widespread uncertainty and financial instability. Gupta firmly assured the delegation that he would personally take up the JDA land allotment issue with the Chief Minister, pledging to advocate for the bank to become fully operational again so that the genuine grievances of the depositors are swiftly resolved.
Published by True Roots Media Network