Directions under Section 35A of the Banking Regulation Act, 1949 – The Hindu Co-operative Bank Limited, Pathankot, Punjab – Modification
Case Brief
The Reserve Bank of India had issued Directions in public interest to The Hindu Co-operative Bank Limited, Pathankot, Punjab under Section 35A read with Section 56 of the Banking Regulation Act, 1949, effective from the close of business on March 25, 2019. In this release, RBI says those Directions are now partially modified, and the modified directive is being displayed at the bank's head office, branches, and other business premises.
The Reserve Bank of India had earlier issued Directions to The Hindu Co-operative Bank Limited, Pathankot, Punjab under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, effective from the close of business on March 25, 2019. This release states that the Directions are now partially modified and that a copy of the modified directive is displayed at the bank's head office, branches, and other business premises.
Severity Assessment
The release does not impose a new adverse restriction; it partially modifies an existing Section 35A order, so there is no new forward-looking adverse impact to score above zero.
The bank remains subject to the modified version of the earlier RBI directions. The release indicates an ongoing regulatory framework rather than a fresh penalty, and the bank must comply with the updated terms communicated through the displayed directive.
Published as The Hindu Co-operative Bank Limited
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