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 validity of its earlier All-Inclusive Directions issued to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan. The original directive dated October 26, 2018 had already been extended up to September 09, 2022; the September 07, 2022 order continues the same directions from September 10, 2022 to December 09, 2022, subject to review. RBI stated that all other terms and conditions of the directive would remain unchanged.
The bank had been placed under All-Inclusive Directions from close of business on November 09, 2018. RBI’s September 07, 2022 directive extends the validity of the October 26, 2018 order for a further three months, from September 10, 2022 to December 09, 2022, subject to review. All other terms and conditions of the directive remain unchanged.
Severity Assessment
This is an extension of RBI All-Inclusive Directions under Section 35A, which is treated as a broad business restriction with severity 4.
The bank continues to operate under the same RBI-imposed restrictions through December 09, 2022, and must comply with the unchanged conditions of the Section 35A directions. Depositors, customers, and counterparties remain affected by the ongoing operational constraints until the next review or further RBI order.
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Action lifted · Lifted / withdrawn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.
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