Sangli Sahakari Bank Ltd

RBI withdrew the Section 35A read with Section 56 directions imposed on Sangli Sahakari Bank Ltd., Mumbai. The withdrawal was effective from close of business on December 27, 2024.

The bank is no longer subject to the withdrawn Section 35A / Section 56 directions from the effective date. Customers and the bank's management are relieved of the operational restrictions previously imposed under those directions, subject to any other applicable regulatory requirements.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949

RBI extended its existing Section 35A directions on Sangli Sahakari Bank Limited for another three months. The bank remains under the same restrictions, unchanged.

Sangli Sahakari Bank Limited continues to operate under RBI-imposed Section 35A restrictions until January 08, 2025, subject to further review. Depositors, customers, and counterparties remain affected by the unchanged operational constraints imposed under the directions.

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

RBI extended the Section 35A directions on Sangli Sahakari Bank Limited, Mumbai. The restrictions remain in force unchanged until April 08, 2024.

The bank must continue operating under the existing RBI restrictions until April 08, 2024 unless the directions are modified again. Customers and counterparties remain subject to whatever limits and conditions were already in place under the prior order, and the extension does not signal any relaxation of the restrictions.

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

RBI has imposed a monetary penalty of Rs 2 lakh on Sangli Sahakari Bank Limited, Mumbai. The action was for non-compliance with RBI directions on Board of Directors-UCBs.

The bank must absorb the Rs 2 lakh penalty and continue complying with RBI's board-governance directions. The order does not invalidate customer transactions, but it signals regulatory non-compliance and may affect supervisory scrutiny.

• Section 47A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949

RBI has extended the existing Directions on Sangli Sahakari Bank Limited, Mumbai, by three months. The earlier restrictions continue unchanged until January 08, 2024, subject to review.

The bank must continue operating under the same RBI restrictions through January 08, 2024, subject to review. The extension preserves the existing operational constraints affecting the bank and, indirectly, its depositors and customers who remain subject to those limits.

• Section 35 A
• Section 56
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Directions on Sangli Sahakari Bank Limited, Mumbai, Maharashtra, until April 08, 2023. The original restrictions continue unchanged.

The bank remains subject to the same RBI-imposed operating conditions until April 08, 2023, subject to further review. Customers and counterparties continue to face the existing restrictions, and the bank cannot operate outside the constraints of the ongoing Directions.

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

RBI placed Sangli Sahakari Bank Ltd., Mumbai under Section 35A directions restricting core banking activities. Depositor withdrawals were also capped at ₹45,000 subject to conditions.

The bank must operate under RBI-imposed restrictions for six months from July 08, 2022 unless modified or reviewed earlier. Customers face limits on withdrawals, and the bank cannot expand lending, investments, liabilities, or asset dispositions without RBI approval.

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