SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (152.00 kb ) version to your machine and then use respective software to print the story.
Date: 31/08/2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Maratha Sahakari Bank Ltd., Mumbai, Maharashtra

Reserve Bank issued Directions under Section 35 A of the Banking Regulation Act, 1949 (As Applicable) to Co-operative Societies) to Maratha Sahakari Bank Ltd., Mumbai vide Directive dated August 31, 2016 for a period of 6 months, (i.e. up to February 28, 2017) which was modified vide subsequent Directive dated February 23, 2017 The Directions are valid for a period of six months up to August 31, 2017, subject to review.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive dated August 31, 2016 issued to Maratha Sahakari Bank Ltd, Mumbai and as modified vide dated February 23, 2017. 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 dated August 31, 2016 issued to Maratha Sahakari Bank Ltd, Mumbai, as modified from time to time , the validity of which was extended upto August 31, 2017, shall continue to apply to the bank for a further period of six months from September 01, 2017 to February 28, 2018 subject to review.

Others terms and conditions of the Directive under reference as modified from time to time remain unchanged.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/594

 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.