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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 (280 kb)
Date : Jan 18, 2023
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra – Extension of Period

The Reserve Bank of India issued Directions to Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) vide Directive CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022 for a period of six months up to January 18, 2023.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022, issued to Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive CO.DoS.DSD.No.S2470/12-07-005/2022-2023 dated July 15, 2022, issued to Nashik Zilla Girna Sahakari Bank Limited, Nashik, shall continue to apply to the bank for a further period of three months from January 19, 2023 to April 18, 2023, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)      
Chief General Manager

Press Release: 2022-2023/1574

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