Shri Anand Co-operative Bank Ltd. Chinchwad, Pune, Maharashtra, was placed under directions from close of business on June 25, 2019, vide Directive DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, for a period of six months. The validity of the directions was last extended up to September 24, 2020 vide our Directive DOR.CO.AID./No.D-65/12.22.474/2019-20 dated March 19, 2020.

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 (As Applicable to Co-operative Societies), hereby directs that the Directive DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, issued to Shri Anand Co-operative Bank Ltd., Chinchwad, as modified from time to time, the validity of which was last extended up to September 24, 2020, shall continue to apply to the bank for a further period of three months from September 25, 2020 to December 24, 2020 vide Directive DOR.CO.AID./No.D-23/12.22.474/2020-21 dated September 22, 2020, subject to review.

3. Other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated September 22, 2020 notifying the above extension is displayed at the bank’s premises for the perusal of 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 of substantive improvement in the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/379