SC: Externally Procured Parts Given For Assembly, Not Used in Manufacture, Not Liable to Excise Duty  ||  SC: Upholding Surendra Koli’s Conviction on Rejected Evidence Would Violate Articles 14 and 21  ||  SC: In Execution Petition, Decree-Holder Must Prove Violation by Judgment Debtor  ||  SC: Insurers Must Compensate Accident Victims Despite Policy Breach, Can Recover From Owner  ||  Kerala HC: Long-Term Posting of Same Police Officer at Sabarimala May Affect Transparency, Efficiency  ||  Delhi HC: Post-Dated Cheques Given as Security Attract Section 138 NI Act After Liability Arises  ||  MP High Court: Railways Liable for Deaths on Tracks if it Fails to Take Preventive Measures  ||  Ker HC: NDPS Case Stands Even if Contraband Listed in Ml, if Chemical Report Shows Equivalent Weight  ||  Kerala HC: Father’s Retirement Benefits Can Be Attached for Child Maintenance Despite S.60(1)(g) CPC  ||  Supreme Court: A Decree Declared 'Nullity' Can be Challenged at Any Stage, Including Execution    

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 Jan 2023)

MANU/RPRL/0058/2023

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 January 28, 2023 to April 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 January 27, 2023 has been extended for a period of three (03) months from January 28, 2023 to April 27, 2023 vide directive order DOR.MON.No.D-65/12.28.007/2022-23 dated January 25, 2023 subject to review. A copy of the directive order dated January 25, 2023 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