Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Bihar

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Published on December 11, 2023

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Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Bihar – Extension of Period

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Vaishali Shahari Vikas Co-operative Bank Ltd. Hajipur, Bihar vide Directive No. DoS(Patna).Co-op.Bk./No. S50/04.01.009/2023-24 dated June 13, 2023, for a period of six months up to close of business on December 14, 2023. 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 close of business on December 14, 2023.

2. 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 Directions for a further period of three months from close of business on December 14, 2023 to close of business on March 14, 2024, subject to review.

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