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Date: 24/12/2019
Directions under Section 35 A of the Banking Regulation Act, 1949 (AACS) – Shri Anand Co-operative Bank Ltd., Chinchawad, Pune, Maharashtra

Shri Anand Co-operative Bank Ltd., Chinchawad, Pune, Maharashtra, was placed under directions from close of business on June 25, 2019, vide Directive No. DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, for a period of six months.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, issued to the above bank, which was valid upto December 24, 2019, shall continue to apply to the bank for a further period of three months from December 25, 2019 to March 24, 2020 vide Directive DOR.CO.AID./No.D-44/12.22.474/2019-20 dated December 23, 2019, subject to review.

3. Other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated December 23, 2019 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and/or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.

(Yogesh Dayal)    
Chief General Manager

Press Release: 2019-2020/1507

 
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