The Reserve Bank of India issued Directions to Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) vide Directive CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022 for a period of six months up to January 18, 2023, the validity of which was extended up to April 18, 2023 vide Directive DOR.MON.D-59/12.22.412/2022-23 dated January 18, 2023.

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 CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022, issued to Nashik Zilla Girna Sahakari Bank Limited, Nashik as modified vide Directive DOR.MON/D-59/12.22.412/2022-23 dated January 18, 2023. 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 CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022, issued to Nashik Zilla Girna Sahakari Bank Limited, Nashik, the validity of which was last extended up to April 18, 2023 vide Directive DOR.MON/D-59/12.22.412/2022-23 dated January 18, 2023 shall continue to apply to the bank for a further period of three months from April 19, 2023 to July 18, 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: 2023-2024/79