Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Amanath Co-operative Bank Ltd., Bangalore – Extension of Period
Case Brief
The Reserve Bank of India has extended the period of operation of its existing Directions issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949 against The Amanath Co-operative Bank Ltd., Bangalore. The directive, earlier extended up to March 12, 2025, will now continue from close of business on March 12, 2025 until close of business on June 12, 2025, subject to review. RBI states that all other terms and conditions remain unchanged.
The Reserve Bank of India had earlier issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Amanath Co-operative Bank Ltd., Bangalore. In this release, RBI states that it is satisfied that, in the public interest, it is necessary to further extend the period of operation of the Directive beyond March 12, 2025, and accordingly extends it from close of business on March 12, 2025 to close of business on June 12, 2025. The release says the other terms and conditions of the Directive remain unchanged.
Severity Assessment
Section 35A/Section 56 directions on a co-operative bank are an operational business restriction, and extensions of such directives remain severity 4.
The bank remains subject to the same operational restrictions contained in the existing directive through June 12, 2025. Customers and counterparties must continue to operate within the limits imposed by the directive until RBI reviews or further modifies it.
Published as The Amanath Co-operative Bank Ltd., Bangalore
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The Amanath Co-operative Bank Ltd., Bangalore
Business restriction · Extension
The Amanath Co-operative Bank Ltd., Bangalore
Business restriction · Extension
The Amanath Co-operative Bank Ltd., Bangalore
Business restriction · Extension
The Amanath Co-operative Bank Ltd., Bangalore
Business restriction · Extension
The Amanath Co-operative Bank Ltd., Bangalore
Business restriction · Extension
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