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Date: 29/03/2019
Withdrawal of All Inclusive Directions under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (AACS) – Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra

Reserve Bank of India, in the public interest, had issued directions to Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra 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 April 01, 2013. Reserve Bank of India has now, in exercise of powers vested with the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), withdrawn the All Inclusive Directions issued to Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra with effect from close of business as on March 26, 2019. The bank will continue to undertake regular banking business hereafter.

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/2316

 
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