The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Defence Accounts Co-operative Bank Ltd., Pune vide Directive No.CO.DOS.SED.No.S8241/12-22-316/2022-23 dated March 09, 2023, for a period of six months. The same were modified from time to time and were last extended up to the close of business on March 10, 2025.

2. After reviewing the financial position of the bank, the Reserve Bank of India, on being satisfied that in the public interest it is necessary to do so and in exercise of the powers vested in it under sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby withdraws with effect from January 16, 2025, the said Directions issued to Defence Accounts Co-operative Bank Ltd., Pune.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2024-2025/1938