Reserve Bank had issued Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal vide Directive dated March 28, 2014. Directions imposed were extended and modified from time to time, last being up to January 06, 2018 vide Directive dated June 29, 2017.

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 read with section 56 of the Banking Regulation Act, 1949, hereby withdraws with effect from January 06, 2018, the said Directions so issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. However, the bank would continue to be under operational instructions.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/1946