Case brief
RBI withdrew the All Inclusive Directions previously imposed on Dilip Urban Co-operative Bank Ltd., Barshi. The bank can continue regular banking business after May 04, 2016.
Impact
The earlier RBI operating restrictions no longer apply from the close of business on May 04, 2016. The bank may resume normal banking operations, with no continuing restriction described in the release.
Regulatory basis
- sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)