The Mahabhairab Co-operative Urban Bank Ltd, Tezpur (Assam)

RBI has extended its existing Section 35A directions against The Mahabhairab Co-operative Urban Bank Ltd., Tezpur, Assam. The directive now continues until close of business on October 12, 2024.

The bank must continue operating under the same RBI-imposed directions for the extension period, with no change to existing conditions. The restriction remains in force until close of business on October 12, 2024, affecting the bank 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 extended its existing Section 35A directions on The Mahabhairab Co-operative Urban Bank Ltd., Tezpur (Assam), for another three months. The bank remains allowed to do business only with restrictions.

The bank remains under RBI-imposed operating restrictions through July 12, 2024, subject to review. Customers and counterparties may continue to face constrained banking services, but the order does not cancel the licence or stop the bank from carrying on business altogether.

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