The Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar, Dist Hingoli

RBI extended the existing Section 35A directions for Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar. The restrictions continue from April 30, 2023 to July 29, 2023, unchanged.

The bank remains under the same RBI-imposed operating restrictions for the extension period. Its business continues subject to the existing directive, and the order will be reviewed before any further change or withdrawal.

• Section 35 A
• Section 56
• sub-section (1) of Section 35A

RBI extended the existing All Inclusive Directions on Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar, Hingoli, Maharashtra by three months. The directive remains in force unchanged.

The bank remains subject to the same operational restrictions under the Section 35A/Section 56 directive for the extended period through April 29, 2023, unless RBI reviews or modifies it earlier. The restriction continues to affect the bank’s operations and its customers under the unchanged terms of the directive.

• 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

RBI imposed a penalty of Rs 1 lakh on Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar, for non-compliance with directions on director-related loans.

The bank must absorb the monetary penalty; the release does not describe any business restriction or suspension. The action serves as a compliance warning for the bank regarding director-related lending controls, but no immediate operational cap is imposed.

• Section 47 A (1) (c)
• Section 46 (4) (i)
• Section 56 of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies)