Case brief
RBI withdrew its Section 35A/Section 56 directions against Pune Sahakari Bank Ltd., Shivajinagar, Pune. The withdrawal takes effect from close of business on October 16, 2025.
Impact
The bank is no longer subject to the withdrawn Section 35A/Section 56 directions from the effective date. This restores normal operating freedom relative to the prior restrictions, subject only to any other applicable regulatory requirements.
Why RBI acted
Regulatory basis
- Section 35A
- Section 56
- sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949