Delhi HC: MYAS Not Bound to ‘Rubber-Stamp’ International Federation Choices  ||  AP HC: Fulfilling Rehabilitation Promises to Displaced is State’s Constitutional Obligation  ||  SC: Career Progression to Higher Echelons of Judiciary is Neither a Matter of Right Nor Entitlement  ||  Provisions of Tribunal Reforms Act 2022 Struck Down as Unconstitutional  ||  Madras HC: Repeated Remand Orders U/S 37 A&C Act are Unworkable Without Reversing Merits  ||  Delhi High Court: Unproven Immoral Conduct of a Parent Cannot Influence Child Custody Decisions  ||  Delhi High Court: Counsel Cannot Treat Passovers or Adjournments as an Automatic Right  ||  Delhi HC: Landlord’s Rent Control Act Rights Cannot be Waived by Contract With Tenant  ||  Bom HC: Arbitrator Who Halts Proceedings over Unpaid Revised Fees Effectively Withdraws From Office  ||  SC Holds That if Some Offences Are Quashed On Compromise, The FIR Cannot Continue For Others    

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