The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra vide Directive CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022, the validity of which was extended up to July 18, 2023 vide Directive DOR.MON.D-10/12.22.412/2023-24 dated April 17, 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-10/12.22.412/2022-23 dated April 17, 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 July 18, 2023 vide Directive DOR.MON/D-10/12.22.412/2023-24 dated April 17, 2023 shall continue to apply to the bank for a further period of three months from July 19, 2023 to October 18, 2023, subject to review.

3. Other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/614