Shri Anand Co-operative Bank Ltd. Chinchawad, Pune, Maharashtra

RBI extended the Section 35A directions on Shri Anand Co-operative Bank Ltd., Chinchawad, Pune. The existing restrictions continue unchanged for another six months.

The bank remains subject to the same RBI-imposed operational restrictions through September 24, 2020, subject to review. Depositors, customers, and counterparties must continue to deal with the bank under the existing limitations until the directions are modified or withdrawn.

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

RBI extended the existing Section 35A directions on Shri Anand Co-operative Bank Ltd. for another three months. The directive continues unchanged.

The bank remains under RBI directions until March 24, 2020, with the existing restrictions continuing unchanged. The bank, its customers, and other stakeholders remain subject to the operational limits contained in the earlier directive, pending further review by RBI.

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

RBI placed Shri Anand Co-operative Bank Ltd., Chinchawad, Pune, under Section 35A Directions. The bank faced withdrawal limits and restrictions on lending, deposits, investments, liabilities, payments, and asset disposals.

The bank must operate under tight RBI-imposed constraints, including a ₹1,000 withdrawal cap per deposit account and prior approval requirements for core activities such as lending, fresh deposit-taking, borrowing, investments, payments, and asset sales. Depositors are directly affected by the withdrawal limit, and the restrictions continue until the stated period ends or RBI modifies them.

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