Padmashri Dr. Vitthalrao Vikhe Patil Co-Op. Bank Ltd., Nashik, Maharashtra

RBI extended the existing Section 35A directions on Padmashri Dr. Vithalrao Vikhe Patil Co-op. Bank Ltd., Nashik. The bank will continue operating under restrictions on withdrawals and deposit acceptance.

The bank remains subject to RBI-imposed operating limits through August 17, 2022, including restrictions on deposit acceptance and withdrawals. Depositors and customers are affected by the caps, and the bank can continue business only within the constrained framework unless RBI modifies or withdraws the directions.

• Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS)

RBI extended its existing directions on Padmashri Dr. Vitthalrao Vikhe Patil Co-Op. Bank Ltd., Nashik for another three months. The bank remains subject to withdrawal and deposit-acceptance ceilings.

The bank must continue operating under RBI-imposed limits on withdrawals and deposit acceptance through March 17, 2022 unless modified earlier. Depositors are affected by the ceilings, and the bank’s business remains constrained pending review of its financial position.

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