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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 (265 kb)
Date : Nov 07, 2022
Directions under Section 35 A 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 Limited, 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) vide Directive NGP.DOS.SSM-2. No.S817/15.04.168/2021-22 dated November 8, 2021 as modified from time to time, last being vide Directive DOR.MON/D-22/12.28.088/2022-23 dated August 4, 2022 in terms of which, the Directions were extended up to November 8, 2022.

2. These directions shall continue to apply to the bank for a further period of three months from November 9, 2022 to February 8, 2023, subject to review. All other terms and conditions of the Directives shall remain unchanged.

3. 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: 2022-2023/1165

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