Shri Anand Co-operative Bank Ltd. Pune

RBI extended the existing Section 35A directions on Shri Anand Co-operative Bank Limited, Pune, until June 24, 2021. The earlier terms and conditions remain unchanged.

Shri Anand Co-operative Bank Limited continues to operate under the existing RBI Directions through June 24, 2021, unless further revised. The restriction remains in force for the bank and its customers, with no change to the earlier conditions imposed by RBI.

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

RBI imposed a ₹1 lakh monetary penalty on Shri Anand Co-operative Bank Ltd., Pune. The penalty was for violations of RBI instructions/guidelines on group borrower limit.

The bank must absorb the monetary penalty; the release does not describe any suspension, restriction, or other operational curtailment. The forward-looking impact is limited to the penal action itself, with no stated direct effect on depositors or borrowers beyond the compliance finding.

• Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)