Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra – Extension of Period
Case Brief
The Reserve Bank of India has further extended the operative period of its existing directions issued to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The directive, originally issued in 2018 and last extended to February 17, 2025, will now remain in force until the close of business on May 17, 2025, subject to review, with all terms and conditions unchanged.
The Reserve Bank of India extended the existing directive issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directions had been issued on May 18, 2018 and were last extended up to the close of business on February 17, 2025. RBI has now extended the directive for a further period of three months, from February 17, 2025 to May 17, 2025, subject to review, with all other terms and conditions remaining unchanged.
Severity Assessment
Section 35A / All-Inclusive Directions on a bank are treated as a broad business restriction at severity 4, including when the order is only extended.
The bank continues to operate under the same RBI-imposed restrictions until May 17, 2025, subject to review. Depositors, customers, and counterparties remain affected by the continuing directive, and the bank must comply with the unchanged conditions during the extended period.
Published as Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra
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Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd. Nashik
Business restriction · Fresh imposition
Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra
Action lifted · Lifted / withdrawn
Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd.
Business restriction · Extension
Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited
Business restriction · Extension
Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited
Business restriction · Extension
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