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The Reserve Bank of India, within the public curiosity, had issued instructions to Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra in train of powers vested in it below sub-part (1) of Section 35 A learn 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 every now and then, final being vide Directive DOR.MON/D-22/12.28.088/2022-23 dated August 4, 2022 in phrases of which, the Directions had been prolonged as much as November 8, 2022. 2. These instructions shall proceed to use to the financial institution for an extra interval of three months from November 9, 2022 to February 8, 2023, topic to evaluation. All different phrases and situations of the Directives shall stay unchanged. 3. The concern of Directions shouldn’t per se be construed as cancellation of banking license by the Reserve Bank of India. The financial institution will proceed to undertake banking business with restrictions until its monetary place improves. (Yogesh Dayal) Press Release: 2022-2023/1165 |
