Case brief
RBI has extended the period of its existing Section 35A directions for Ramgarhia Co-operative Bank Limited, New Delhi. No further details of the underlying issues are available from the title alone.
Impact
The bank remains subject to RBI’s existing Section 35A restrictions for the extended period. Customers and counterparties may continue to face operating constraints associated with those directions until the order is changed or withdrawn.
Regulatory basis
- Section 35A of the Banking Regulation Act, 1949
- Section 56 of the Banking Regulation Act, 1949