Press Releases

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Date : Mar 23, 2020
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. The validity of the directions was extended up to March 24, 2020 vide our Directive DOR.CO.AID./No.D-44/12.22.474/2019-20 dated December 23, 2019.

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, as modified from time to time, issued to the above bank, the validity of which was last extended up to March 24, 2020, shall continue to apply to the bank for a further period of six months from March 25, 2020 to September 24, 2020 vide Directive DOR.CO.AID./No.D-65/12.22.474/2019-20 dated March 19, 2020, subject to review.

3. Other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated March 19, 2020 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: 2019-2020/2098