The Reserve Bank of India, vide Directive:LKO.DoS.SED.No.S-381/10.12.359/2023-24 dated August 28, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Purvanchal Co-operative Bank Ltd., Ghazipur (U.P) under Directions from the close of business on August 29, 2023. The validity of these Directions was extended time-to-time, last being up to May 29, 2024.

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 (AACS), hereby directs that the aforesaid Directions shall continue to apply on to the bank from close of business on May 29, 2024 to close of business on August 29, 2024 as per the Directive DOR.MON/D-19/12-22-803/2024-25 dated May 24, 2024, subject to review.

3. All other terms and conditions of the Directions under reference shall remain unchanged. A copy of the Directive dated May 24, 2024 notifying the above extension is displayed at the bank’s premises for the perusal of members and 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.

(Puneet Pancholy)    
Chief General Manager

Press Release: 2024-2025/390