The Reserve Bank of India issued Directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018 as modified from time to time, which were last extended up to February 17, 2023 vide Directive DOR.MON.D-42/12.22.395/2022-23 dated November 17, 2022.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018, issued to Padmashri Dr.Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik and as modified from time to time, last being vide Directive DOR.MON.D-42/12.22.395/2022-23 dated November 17, 2022. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018, issued to Padmashri Dr.Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, as modified from time to time, the validity of which was extended up to February 17, 2023, shall continue to apply to the bank for a further period of three months from February 18, 2023 to May 17, 2023, subject to review.

3. Other terms and conditions of the Directives under reference as modified from time-to-time shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1738