Madras HC: Freedom of Religion Cannot Extend to Disturbing Peace Within Temple Premises  ||  Delhi HC: Lokpal Cannot Form a Prima Facie View on Corruption Without Hearing The Official  ||  MP High Court: DRT Cannot Restrict or Impose Conditions on a Person's Foreign Travel  ||  Bombay HC: Results of Dec 2 And 20 Local Body Election Must be Declared Together  ||  Delhi HC: Employment Disputes Cannot be Treated as Commercial Cases under the Act  ||  Supreme Court: Divorced Muslim Woman Can Reclaim Gifts Given to Husband at Marriage  ||  Supreme Court: Police and Courts Should Act as Initial Filters to Prevent Baseless Prosecutions  ||  SC: Maharashtra Can Acquire Land under Slum Areas Act, Respecting Owner's Preferential Rights  ||  Supreme Court: Excise Exemption on Cotton Fabrics is Denied if Any Related Process Uses Power  ||  NCLAT: IBC Auctions are Not Ordinary Contracts, and Market Volatility Does not Excuse Bid Defaults    

Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - United Cooperative Bank Limited Extension of Period- (Reserve Bank of India) (22 Jan 2019)

MANU/RPRL/0014/2019

Banking

Reserve Bank of India, in public interest, had issued directions to United Cooperative Bank Limited, Bagnan Station Road (North), P.O-Bagnan, Dist. - Howrah, Pin-711303, West Bengal in exercise of its powers vested in it under sub-section (1) of Section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on July 18, 2018 which was valid till January 18, 2019. Reserve Bank of India has now, in public interest, further extended the directions for a period of six months from January 19, 2019 to July 18, 2019. A copy of the Directive is displayed at bank's premises for perusal of public.

The issue of the above directions by Reserve Bank of India should not per se be construed as cancellation of banking licence. The bank will continue to undertake banking business with restrictions till its financial position improves. Reserve Bank of India may consider modifications of these directions depending upon circumstances from time to time

Tags : DIRECTIONS   PERIOD   EXTENSION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved