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.


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Date : May 13, 2019
Gomti Nagariya Sahkari Bank Ltd., Jaunpur, Uttar Pradesh -Withdrawal of Directions issued by the Reserve Bank of India

The Reserve Bank of India (RBI) had issued directions under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) to Gomti Nagariya Sahkari Bank Ltd., Jaunpur, Uttar Pradesh vide directive dated July 03, 2017. Directions imposed were extended and modified from time to time, last being up to May 10, 2019 vide Directive dated October 30, 2018.

Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exercise of the powers vested in it under sub-section (2) of section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies), hereby withdraws the said Directions so issued (and modified from time to time) to Gomti Nagariya Sahkari Bank Ltd., Jaunpur, Uttar Pradesh.

A copy of the directive is displayed in the bank’s premises for perusal by interested members of public. The bank will continue to undertake regular banking business hereafter.

Shailaja Singh
Deputy General Manager

Press Release: 2018-2019/2661


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