Directions u/s 35 A read with section 56 of the Banking Regulation Act, 1949 – Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru – Extension of Period
Case Brief
The Reserve Bank of India has extended the validity of its existing directions issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directions, originally issued on January 02, 2020 and last modified on February 08, 2023, will continue to apply from May 11, 2023 to August 10, 2023, subject to review. No other terms were changed.
The Reserve Bank of India extended the period of operation of the existing directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka. The directive, originally dated January 02, 2020 and last modified on February 08, 2023, was continued from May 11, 2023 to August 10, 2023. Other terms and conditions remain unchanged.
Severity Assessment
This is an extension of RBI Section 35A operational directions on a cooperative bank, which is treated as a broad business restriction with severity 4.
The bank remains subject to the same RBI operational restrictions for the extended period, with the directive continuing unchanged. The extension affects the bank’s operations and any customers or counterparties dealing with it, until August 10, 2023 or further review.
Published as Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
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Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
Business restriction · Extension
Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
Business restriction · Extension
Sri Guru Raghavendra Sahakara Bank Niyamitha
Business restriction · Extension
Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru
Business restriction · Extension
Sri Guru Raghavendra Sahakara Bank Niyamitha
Business restriction · Extension
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