RBI withdraws Directions issued to Kisan Nagari Sahakari Bank Maryadit, Parbhani, Maharashtra
Case Brief
The Reserve Bank of India withdrew the All Inclusive Directions that had been issued on January 29, 2015 to Kisan Nagari Sahakari Bank Maryadit, Parbhani, Maharashtra. The withdrawal was exercised under Section 35A(2) of the Banking Regulation Act, 1949 (as applicable to cooperative societies), and the bank was permitted to continue undertaking regular banking business thereafter.
The Reserve Bank of India withdrew the All Inclusive Directions issued on January 29, 2015 to Kisan Nagari Sahakari Bank Maryadit, Parbhani, Maharashtra. The withdrawal was made under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (as applicable to cooperative societies).
Severity Assessment
This is a withdrawal of a prior restriction and the release states the bank will continue regular banking business, so there is no forward-looking adverse impact.
The earlier operating restrictions no longer apply from the close of business on April 09, 2015. The bank may resume/continue regular banking operations, and the withdrawal removes the prior constraints on its activities.
Published as Kisan Nagari Sahakari Bank Maryadit, Parbhani, Maharashtra
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