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Date : Sep 09, 2022
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Dwarkadas Mantri Nagari Sahakari Bank. Ltd., Beed, Maharashtra – Extension of Period

The Reserve Bank of India issued Directions to Dwarkadas Mantri Nagari Sahakari Bank. Ltd., Beed, Maharashtra under Section 35A read with Section 56 the Banking Regulation Act, 1949 vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/ 2021-22 dated March 9, 2022.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 9, 2022, issued to Dwarkadas Mantri Nagari Sahakari Bank. Ltd., Beed, Maharashtra. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 9, 2022, issued to Dwarkadas Mantri Nagari Sahakari Bank. Ltd., Beed, Maharashtra, shall continue to apply to the bank for a further period of three months from September 10, 2022, to December 9, 2022, subject to review.

3. All other terms and conditions of the Directives shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/856

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