The Reserve Bank of India, in the public interest, had issued directions to Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra 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 (AACS) vide Directive NGP.DOS.SSM-2NO.S-817/15.04.168/2021-22 dated November 8, 2021 as modified from time to time, last being vide Directive DOR.MON/D-06/12.28.088 dated May 6, 2022 in terms of which, the Directions were extended up to August 8, 2022. 2. These directions shall continue to apply to the bank for a further period of three months from August 9, 2022 to November 8, 2022, subject to review. All other terms and conditions of the Directives shall remain unchanged. 3. 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: 2022-2023/664 | |