The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra vide Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018, for a period of six months up to November 18, 2018 as modified from time to time, which were last extended up to close of business on August 17, 2024 vide Directive DOR.MON.D-12/12.22.395/2024-25 dated May 15, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive beyond August 17, 2024.

The Reserve Bank has constituted an Expert Committee to: (a) benchmark the statistics regularly disseminated by it against global standards / best practices; (b) study the quality of other regular data, where such benchmarks do not exist (e.g., sectors of national priority); and (c) provide guidance on the scope for any further data refinement. Following is the composition of the Expert Committee: 1 Dr. Michael Debabrata Patra Deputy Governor, Reserve Bank of India Chairman