People’s Co-operative Bank Limited, Kanpur (U.P)

RBI extended the Section 35A directions on People’s Co-operative Bank Limited, Kanpur (U.P) for another month, from March 11, 2022 to April 10, 2022. The order continues the existing restrictions already in place.

The bank remains subject to the existing Section 35A operating restrictions through April 10, 2022, unless RBI reviews and changes the order earlier. Depositors, customers, and counterparties continue to be affected by the ongoing constraints on the bank’s operations.

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

RBI extended the Section 35A directions on People’s Co-operative Bank Limited, Kanpur (U.P.) for three more months. This is a continuation of the existing restriction, not a new penalty.

The bank remains subject to the existing Section 35A operating directions through March 10, 2022 unless RBI reviews or changes them earlier. This continues operational constraints on the bank and indirectly affects customers and counterparties dealing with the bank under the directed regime.

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