Chhattisgarh HC: Infirmity in Cheque Return Memo Won’t Render Entire Trial u/s 138 of NI Act a Nullit  ||  Delhi HC: Lawyers have Great Responsibility towards Resolving Matrimonial Disputes  ||  Pat. HC: Mental Disorder for Divorce Must be Such that Spouse Can’t be Expected to Live with Other  ||  Delhi HC: Can Dispense Personal Hearing Only if Assessee's Rectification Application Is Allowed  ||  J&K HC: Fact that Civil Remedy is Available for Breach of Contract No Ground to Quash Cr. Proceeding  ||  SC: Cannot Grant Bail for Offence under Sec. 447 of Companies Act Without Fulfilling Twin Conditions  ||  Supreme Court: Can Pass Judgment on Admission Made Outside the Pleadings  ||  SC: All Proceedings Related to Land Allotment for Bom. HC's New Complex Must be Heard by Bombay HC  ||  NCLAT: No Requirement of Opportunity of Being Heard at Stage of Report Submission u/s 99 of IBC  ||  J&K High Court Notifies Video Conferencing (Nyaya Shruti) Rules, 2025    

Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Garha Co-operative Bank Ltd., Guna-Extension of period- (Reserve Bank of India) (23 Nov 2022)

MANU/RPRL/0547/2022

Banking

The Reserve Bank of India, in the public interest, had issued directions to Garha Co-operative Bank Ltd., Guna, Madhya Pradesh in exercise of 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 February 24, 2021. The validity of the directions was extended from time-to-time, the last being up to November 24, 2022.

The Reserve Bank of India has now further extended the Directions for a period of three months from November 25, 2022 to February 24, 2023, subject to review. The Directions stipulate certain restrictions and / or ceiling on withdrawal / acceptance of deposits. The detailed Directions are 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 : DIRECTIONS   EXTENSION   PERIOD  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved