Press Releases

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Date : May 06, 2022
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra – Extension of Period

The Reserve Bank of India, in the public interest, had issued directions to Babaji Date Mahila Sahakari Bank Ltd., 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) from the close of business on November 08, 2021. These directions shall continue to apply to the bank for a further period of three months from May 09, 2022 to August 08, 2022, subject to review. The Directions stipulate certain restrictions and / or ceiling on withdrawal / acceptance of deposits. A copy of Directions is displayed at the bank’s premises for interested members of public to peruse. Reserve Bank of India may consider modifications of the Directions depending upon the circumstances. 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: 2022-2023/176


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