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REGULATING CO-OPERATIVE BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country's financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release


PDF document (152 kb)
Date : Jul 28, 2017
RBI extends Directions issued to the Mahamedha Urban Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh till August 29, 2017

The Reserve Bank of India has extended Directions issued to the Mahamedha Urban Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh for a further period of one month from July 30, 2017 to August 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto August 29, 2017 vide directive dated July 26, 2017. A copy of the directive dated July 26, 2017 is displayed at the bank’s premises for the perusal of public.

The modification of the directive by the Reserve Bank should per se not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/281

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