Defence Accounts Cooperative Bank ltd, Pune

RBI withdrew the directions earlier issued to Defence Accounts Co-operative Bank Ltd., Pune. The withdrawal takes effect from 16 January 2025.

The bank is no longer subject to the withdrawn Section 35A directions from 16 January 2025 onward. Any operational limits imposed by those directions cease to apply from that date, restoring the bank's position to that extent.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The restrictions continue from December 10, 2024 to March 10, 2025.

The bank remains subject to the same RBI operating restrictions during the extension period, with the continued possibility of review. Depositors and other stakeholders continue to be affected by the unchanged terms of the existing directions until March 10, 2025, unless RBI modifies or withdraws them earlier.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The order continues from September 10, 2024 to December 10, 2024, with all other conditions unchanged.

The bank remains subject to the RBI’s operational directions through December 10, 2024 unless further modified or withdrawn. The extension continues to constrain the bank’s operations under the existing order, affecting the bank and its customers until the review period ends.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The restrictions continue unchanged from June 10, 2024 to September 10, 2024.

The bank continues to operate under the same RBI-imposed restrictions for the extension period, subject to review. Depositors, customers, and counterparties remain affected by the ongoing operational constraints until the directions expire or are modified further.

• Section 35A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The order continues the bank’s operating restrictions through June 10, 2024.

The bank remains subject to the existing RBI-imposed operating restrictions for the extended period. Customers and counterparties continue to be affected by the same conditions already in force, and the bank must comply with the unchanged terms until the new end date unless further modified or withdrawn.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The restrictions continue unchanged until March 10, 2024, subject to review.

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.

• Section 35 A
• Section 56
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI has extended the existing Section 35A directions on Defence Accounts Cooperative Bank Ltd., Pune. The order now continues through close of business on December 10, 2023.

The bank remains subject to the same operating constraints under RBI directions until the new expiry date, with no change to the existing terms. Customers and counterparties continue to deal with the bank under the restrictions already in place, and the directions may be reviewed further by RBI.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI placed Defence Accounts Co-operative Bank Ltd., Pune under Section 35A directions. The bank’s core activities were restricted, including lending, investments, liabilities, fresh deposits, and payments, with only limited withdrawals permitted.

The bank must operate under RBI-imposed restrictions for six months unless modified earlier. Customers face caps and conditions on withdrawals, while the bank cannot expand lending, accept fresh deposits freely, or take on new liabilities without RBI approval.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949
• Section 18A of the DICGC Act (amendment) 2021