Delhi HC: Non-Proof of Hearing Notice Dispatch Doesn’t by Itself Show no Personal Hearing Was Given  ||  Delhi High Court: No Construction or Residence Allowed on Yamuna Floodplains, Even For Graveyards  ||  J&K High Court: Right to Speedy Trial Includes Appeals; Closes 46-Year-Old Criminal Case Due to Delay  ||  J&K High Court: Courts Must Not Halt Corruption Probes, Refuses to Quash FIR  ||  J&K&L HC: Matrimonial Remedies May Overlap, But Cruelty Claims Cannot be Selectively Invoked  ||  Delhi High Court: Customs Officials Acting Officially Cannot be Cross-Examined as of Right  ||  J&K&L HC: Second Arbitral Reference is Maintainable if Award is Set Aside Without Deciding Merits  ||  J&K&L HC: Gold Voluntarily Given to Customer is 'Entrustment'; Theft Excluded from Insurance Cover  ||  Delhi HC: Working Mothers Cannot be Forced to Bear Full Childcare Burden While Fathers Evade Duty  ||  J&K&L HC: Arbitral Tribunal Not a “Court”; Giving False Evidence Before it Doesn’t Attract S.195 CrPC    

Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - The Laxmi Co-operative Bank Ltd., Solapur - Extension of Period- (Reserve Bank of India) (11 May 2022)

MANU/RPRL/0195/2022

Banking

The Reserve Bank of India, in the public interest, had issued directions to The Laxmi Co-operative Bank Ltd., Solapur, Maharashtra 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 (AACS) from the close of business on November 12, 2021. These directions shall continue to apply to the bank for a further period of three months from May 12, 2022 to August 11, 2022, subject to review. The Directions stipulate certain restrictions and / or ceiling on withdrawal / acceptance of deposits. A copy of Directions is displayed at the bank's premises for interested members of public to peruse. Reserve Bank of India may consider modifications of the Directions depending upon the circumstances. The issue of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will continue to undertake banking business with restrictions till its financial position improves.

Tags : DIRECTION   PROVISION   BANK  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved