Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 - Rupee Co-operative Bank Ltd., Pune- (Reserve Bank of India) (28 Feb 2022)

MANU/RPRL/0094/2022

Banking

1. Reserve Bank of India vide directive UBD.CO.BSD-I/D-28/12.22.2018/2012-13 dated February 21, 2013 had placed the Rupee Co-operative Bank Ltd., Pune, Maharashtra under Directions from the close of business on February 22, 2013. The validity of the directions was extended from time-to-time, the last being up February 28, 2022.

2. It is hereby notified for the information of the public that, 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, hereby directs that the aforesaid Directions shall continue to apply to the bank till May 31, 2022 as per the directive DOR.MON/D-67/12.22.218/2021-22 dated February 25, 2022, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated February 25, 2022 notifying the above extension is displayed at the bank's premises for the perusal of public.

4. The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

Tags : DIRECTIONS PROVISIONS