Case Brief
What Happened
The Reserve Bank of India had imposed Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 on Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra on May 18, 2018, and these directions were modified and extended over time, most recently up to May 17, 2025. Following a review of the bank’s financial position, RBI withdrew the directions in the public interest, effective from the close of business on May 16, 2025.