Bombay HC: Clarifies Procedure for Executing Foreign Decrees  ||  Supreme Court: Bureaucratic Delay No Excuse  ||  Supreme Court Grants Full Disability Pension Arrears to Veterans  ||  Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age  ||  Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage  ||  Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct  ||  Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments  ||  Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made  ||  SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail  ||  Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams    

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 2026 - All Rights Reserved