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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 (325 kb)
Date : Jun 10, 2024
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Defence Accounts Cooperative Bank ltd, Pune - Extension of period

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8241/12-22-316/2022-2023 dated March 09, 2023, had placed Defence Accounts Cooperative Bank ltd, Pune under Directions from the close of business on March 10, 2023.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, 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, hereby directs that the aforesaid Directions shall continue to apply to the bank from close of business on June 10, 2024 till close of business on September 10, 2024 as per the directive DOR.MON.D-27/12.22.262/2024-25 dated June 07, 2024, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated June 07, 2024 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Puneet Pancholy)  
Chief General Manager

Press Release: 2024-2025/472

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