Case brief
RBI has extended its existing Section 35A directions on The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra. The restrictions now continue until the close of business on January 28, 2025.
Impact
The bank remains subject to the same RBI-imposed operating restrictions through January 28, 2025, unless reviewed earlier. The extension continues to constrain the bank's operations and any affected customers, counterparties, or depositors must continue to operate within the existing terms of the directive.
Why RBI acted
Regulatory basis
- Section 35A read with Section 56 of the Banking Regulation Act, 1949
- sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949