Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Defence Accounts Cooperative Bank ltd, Pune - Extension of period
Case Brief
The Reserve Bank of India extended the existing Directions applicable to Defence Accounts Cooperative Bank Ltd., Pune. The bank had been placed under Directions earlier, and RBI stated that those Directions would continue from close of business on December 10, 2023 until close of business on March 10, 2024. The release says all other terms and conditions remain unchanged, and the extension is subject to review.
RBI had already placed Defence Accounts Cooperative Bank Ltd., Pune under Directions from the close of business on March 10, 2023. By the December 07, 2023 directive, RBI stated that the same Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 shall continue to apply from close of business on December 10, 2023 till close of business on March 10, 2024, with all other terms and conditions remaining unchanged and subject to review.
Severity Assessment
This is an extension of RBI Section 35A banking directions, which are treated as a broad business restriction with severity 4.
The bank remains under the same RBI operational constraints during the extended period. Customers and counterparties continue to be subject to whatever restrictions were already in force under the earlier Directions until the new expiry date, unless RBI modifies or withdraws them earlier.
Published as Defence Accounts Cooperative Bank ltd, Pune
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
Defence Accounts Co-operative Bank Ltd., Pune
Action lifted · Lifted / withdrawn
Defence Accounts Cooperative Bank Ltd., Pune
Business restriction · Extension
Defence Accounts Cooperative Bank Ltd., Pune
Business restriction · Extension
Defence Accounts Cooperative Bank ltd, Pune
Business restriction · Extension
Defence Accounts Cooperative Bank ltd, Pune
Business restriction · Extension
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