Press Releases

PDF document (254 kb)
Date : Sep 17, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Padmashri Dr. Vitthalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra – Extension of Period

Reserve Bank of India, in the public interest, had issued directions to Padmashri Dr. Vitthalrao Vikhe Patil Co-operative 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 May 19, 2018. Reserve Bank of India has now further extended the directions for a period of six months from September 18, 2019 to March 17, 2020, subject to review. A copy of Directive is displayed at the bank’s premises for perusal of public. Reserve Bank of India may consider modifications of the Directions depending upon the circumstances. The issue of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will continue to undertake banking business with restrictions till its financial position improves.

Yogesh Dayal      
Chief General Manager

Press Release : 2019-2020/717


2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Archives
Top