Directions under Section 35 A of the Banking Regulation Act, 1949 (AACS) – Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana – Extension of Period of validity
Case Brief
The Reserve Bank of India extended the period of operation of the existing directive issued to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The validity was further extended for three months from January 03, 2020 to April 02, 2020, subject to review, and all other terms and conditions remained unchanged.
The Reserve Bank of India had earlier issued directions to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana under Section 35A read with Section 56 of the Banking Regulation Act, 1949. This release does not announce a new restriction; it extends the period of operation of the existing directive from January 03, 2020 to April 02, 2020, subject to review, with all other terms and conditions unchanged.
Severity Assessment
This is an extension of RBI Section 35A directions on a co-operative bank, which is treated as a broad business restriction with severity 4.
The bank continues to operate under the same RBI-imposed conditions through April 02, 2020 unless reviewed earlier. Depositors, customers, and counterparties remain subject to the restrictions already contained in the directive, and no new relief or expansion of operations is announced here.
Published as Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana
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Sri Bharathi Co-operative Urban Bank Ltd.
Action lifted · Lifted / withdrawn
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Business restriction · Extension
Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad
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Action lifted · Lifted / withdrawn
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