RBI withdraws Directions issued to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra
Case Brief
The Reserve Bank of India withdrew the All Inclusive Directions that had been issued on August 06, 2014 to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra. The withdrawal was issued under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) and took effect from the close of business on May 04, 2016. The release says the bank will continue to undertake regular banking business thereafter.
The Reserve Bank of India withdrew the All Inclusive Directions issued vide order dated August 06, 2014 to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra. The withdrawal was made under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The bank is stated to continue regular banking business after the close of business on May 04, 2016.
Severity Assessment
This is a withdrawal of prior directions, so it imposes no forward-looking adverse restriction and is scored at severity 0.
The earlier RBI operating restrictions no longer apply from the close of business on May 04, 2016. The bank may resume normal banking operations, with no continuing restriction described in the release.
Published as Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra
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