The Reserve Bank of India had issued Directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018 for a period of six months up to the close of business on November 18, 2018, which were last extended up to the close of business on November 17, 2024 vide Directive DOR.MON. D-42/12.22.395/2024-25 dated August 14, 2024.

2. 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 the close of business on November 17, 2024.

3. 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 extends the Directive for a further period of three months from the close of business on November 17, 2024, to the close of business on February 17, 2025, subject to review.

4. All other terms and conditions of the Directive under reference shall remain unchanged.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2024-2025/1501