Press Releases - Regulating Co-operative Banking - আৰবিআই - Reserve Bank of India
প্ৰেছ ৰিলিজ
The Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 26, 2023. The Commissioner and Registrar of Cooperative, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 26, 2023. The Commissioner and Registrar of Cooperative, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
Today, the Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 25, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
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The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
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The bank has failed to comply with the requirements of Sections 22(3) (a), 22(3) (b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
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The continuance of the bank is prejudicial to the interests of its depositors;
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The bank with its present financial position would be unable to pay its present depositors in full; and
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Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 96.09% of the depositors are entitled to receive full amount of their deposits from DICGC. As on July 24, 2023, DICGC has already paid ₹230.16 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/985
Today, the Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 25, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
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The bank has failed to comply with the requirements of Sections 22(3) (a), 22(3) (b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 96.09% of the depositors are entitled to receive full amount of their deposits from DICGC. As on July 24, 2023, DICGC has already paid ₹230.16 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/985
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from September 26, 2023. The branches of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai (Maharashtra) will function as branches of The Cosmos Co-operative Bank Limited, Pune (Maharashtra) with effect from September 26, 2023.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/986
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from September 26, 2023. The branches of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai (Maharashtra) will function as branches of The Cosmos Co-operative Bank Limited, Pune (Maharashtra) with effect from September 26, 2023.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/986
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. AMD.DOS.SSM.No.S1053/11-03-039/2023-2024 dated September 25, 2023, has issued certain Directions to Colour Merchants Co-operative Bank Ltd., Ahmedabad, whereby, as from the close of business on September 25, 2023, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated September 25, 2023, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. In particular, a sum not exceeding ₹50,000 (Rupees Fifty thousand only) of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn subject to the conditions stated in the above RBI Directions.
2. The eligible depositors would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation, under the provisions of Section 18A of the DICGC Act (amendment) 2021, based on submission of willingness by the concerned depositors. The depositors may contact their bank officials for further information. Details may also be accessed on the DICGC website: www.dicgc.org.in.
3. The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances.
4. These Directions shall remain in force for a period of six months from the close of business on September 25, 2023 and are subject to review.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/988
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. AMD.DOS.SSM.No.S1053/11-03-039/2023-2024 dated September 25, 2023, has issued certain Directions to Colour Merchants Co-operative Bank Ltd., Ahmedabad, whereby, as from the close of business on September 25, 2023, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated September 25, 2023, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. In particular, a sum not exceeding ₹50,000 (Rupees Fifty thousand only) of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn subject to the conditions stated in the above RBI Directions.
2. The eligible depositors would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation, under the provisions of Section 18A of the DICGC Act (amendment) 2021, based on submission of willingness by the concerned depositors. The depositors may contact their bank officials for further information. Details may also be accessed on the DICGC website: www.dicgc.org.in.
3. The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances.
4. These Directions shall remain in force for a period of six months from the close of business on September 25, 2023 and are subject to review.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/988
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S2322/12-07-005/2022-23 dated July 07, 2022, had placed Sangli Sahakari Bank Limited, Mumbai, Maharashtra under Directions from the close of business on July 08, 2022, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to October 08, 2023.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directions for a further period of three months from close of business on October 08, 2023, to close of business on January 08, 2024 as per the Directive DOR.MON.D-74/12.22.225/2023-24 dated September 21, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 21, 2023, notifying the above extension is displayed at the bank’s premises for the perusal of the public.
4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/976
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S2322/12-07-005/2022-23 dated July 07, 2022, had placed Sangli Sahakari Bank Limited, Mumbai, Maharashtra under Directions from the close of business on July 08, 2022, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to October 08, 2023.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directions for a further period of three months from close of business on October 08, 2023, to close of business on January 08, 2024 as per the Directive DOR.MON.D-74/12.22.225/2023-24 dated September 21, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 21, 2023, notifying the above extension is displayed at the bank’s premises for the perusal of the public.
4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/976
The Reserve Bank of India (RBI), vide order dated September 21, 2023, has cancelled the licence of Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski, Karnataka. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2023. The Registrar of Cooperative Societies, Bengaluru has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
-
The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and,
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski, Karnataka is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 99.50% of the depositors are entitled to receive full amount of their deposits from DICGC. As on May 31, 2023, DICGC has already paid ₹5.38 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/974
The Reserve Bank of India (RBI), vide order dated September 21, 2023, has cancelled the licence of Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski, Karnataka. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2023. The Registrar of Cooperative Societies, Bengaluru has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
-
The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and,
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski, Karnataka is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 99.50% of the depositors are entitled to receive full amount of their deposits from DICGC. As on May 31, 2023, DICGC has already paid ₹5.38 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/974
The Reserve Bank of India (RBI), vide order dated September 21, 2023, has cancelled the licence of National Urban Co-operative Bank Limited, Bahraich (U.P). Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2023. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
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The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and,
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, National Urban Co-operative Bank Limited, Bahraich (U.P) is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 99.87% of the depositors are entitled to receive full amount of their deposits from DICGC.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/973
The Reserve Bank of India (RBI), vide order dated September 21, 2023, has cancelled the licence of National Urban Co-operative Bank Limited, Bahraich (U.P). Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2023. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
-
The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and,
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, National Urban Co-operative Bank Limited, Bahraich (U.P) is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 99.87% of the depositors are entitled to receive full amount of their deposits from DICGC.
(Shweta Sharma)
Deputy General Manager
Press Release: 2023-2024/973
Reserve Bank of India (RBI) is satisfied to notify The Ananthasayanam Co-operative Bank Ltd., Trivandrum as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated December 19, 1987, granted to The Ananthasayanam Co-operative Bank Ltd., Trivandrum, Kerala to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act,1949 with effect from the close of business on September 21, 2023. This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, The Ananthasayanam Co-operative Bank Ltd., Trivandrum shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.
Reserve Bank of India (RBI) is satisfied to notify The Ananthasayanam Co-operative Bank Ltd., Trivandrum as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated December 19, 1987, granted to The Ananthasayanam Co-operative Bank Ltd., Trivandrum, Kerala to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act,1949 with effect from the close of business on September 21, 2023. This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, The Ananthasayanam Co-operative Bank Ltd., Trivandrum shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 09, 2022 for a period of six months up to September 09, 2022, as modified from time to time, which were last extended up to September 09, 2023 vide Directive DOR.MON/D-31/12.22.613/2023-24 dated June 09, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond September 09, 2023.
2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on September 09, 2023 to close of business on December 09, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/883
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 09, 2022 for a period of six months up to September 09, 2022, as modified from time to time, which were last extended up to September 09, 2023 vide Directive DOR.MON/D-31/12.22.613/2023-24 dated June 09, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond September 09, 2023.
2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on September 09, 2023 to close of business on December 09, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/883
The Reserve Bank of India, vide directive CO.DOS.SED.No.S8241/12-22-316/2022-2023 dated March 09, 2023, had placed Defence Accounts Cooperative Bank ltd, Pune under Directions from the close of business on March 10, 2023.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till close of business on December 10, 2023 as per the directive DOR.MON.D-73/12.22.262/2023-24 dated September 08, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 08, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of public.
4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/896
The Reserve Bank of India, vide directive CO.DOS.SED.No.S8241/12-22-316/2022-2023 dated March 09, 2023, had placed Defence Accounts Cooperative Bank ltd, Pune under Directions from the close of business on March 10, 2023.
2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till close of business on December 10, 2023 as per the directive DOR.MON.D-73/12.22.262/2023-24 dated September 08, 2023, subject to review.
3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 08, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of public.
4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/896
পৃষ্ঠাটো শেহতীয়া আপডেট কৰা তাৰিখ: আগষ্ট 23, 2024