Directions under Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Sikar Urban Co-operative Bank Ltd, Sikar, Rajasthan - Extension of Validity
Case Brief
The Reserve Bank of India extended the existing All-Inclusive Directions applicable to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The original directive dated October 26, 2018 had been in force and was last extended up to December 09, 2021; the new directive dated December 09, 2021 continues the same restrictions for a further three months, from December 10, 2021 to March 09, 2022, with no change in the other terms and conditions.
Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan had already been placed under All-Inclusive Directions from close of business on November 09, 2018. The Reserve Bank of India, under Section 35A of the Banking Regulation Act, 1949 (read with Section 56), extended the validity of the same directive again from December 10, 2021 to March 09, 2022, with all other terms and conditions unchanged and subject to review.
Severity Assessment
This is an extension of RBI All-Inclusive Directions under Section 35A on a co-operative bank, which is a broad business restriction and therefore severity 4.
The bank continues to operate under RBI-imposed All-Inclusive Directions, meaning its activities remain restricted under the existing terms until March 09, 2022, unless reviewed or changed earlier. Depositors, customers, and counterparties remain subject to the bank’s restricted operating framework.
Published as Sikar Urban Co-operative Bank Ltd.
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Sikar Urban Co-operative Bank Ltd, Sikar
Action lifted · Lifted / withdrawn
Sikar Urban Co-operative Bank Ltd.
Business restriction · Extension
Sikar Urban Co-operative Bank Ltd.
Business restriction · Extension
Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan
Business restriction · Extension
Sikar Urban Co-operative Bank Ltd.
Business restriction · Extension
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