Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses  ||  Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out  ||  Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease  ||  Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory  ||  NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors  ||  NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date  ||  Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction    

Extension of validity of Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P.)- (Reserve Bank of India) (25 Oct 2022)

MANU/RPRL/0488/2022

Banking

The Reserve Bank of India (RBI) has extended the directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P.) for a period of three (03) months from October 28, 2022 to January 27, 2023, subject to review. The bank has been under direction since January 28, 2022 vide directive order DOS.CO.OCCD/185569/12.28.007/2021-22 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS).

The validity of the directive, which was issued up to October 27, 2022 has been extended for a period of three (03) months from October 28, 2022 to January 27, 2023 vide directive order DOR.MON.No.D-37/12.28.007/2022-23 dated October 21, 2022 subject to review. A copy of the directive order dated October 21, 2022 is displayed at the bank's premises for the perusal of public.

The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

Tags : EXTENSION   VALIDITY   DIRECTIONS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved