The Suri Friends’ Union Co-operative Bank Limited, Suri (West Bengal)

RBI extended its existing Section 35A/Section 56 directions against The Suri Friends' Union Co-operative Bank Limited, Suri (West Bengal). The bank remains subject to the same restrictions for another three months.

The bank must continue operating under the existing RBI restrictions through July 22, 2023 unless modified earlier. This affects the bank’s business conduct and may constrain normal operations, while depositors and counterparties remain subject to the bank’s restricted operating environment.

• Section 35 A read with 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 extended the existing Section 35A directions for The Suri Friends' Union Co-operative Bank Limited for three more months. The restrictions continue from January 23, 2023 to April 22, 2023, subject to review.

The bank remains subject to the same RBI-imposed operating restrictions through April 22, 2023 unless modified earlier by RBI. Customers and counterparties continue to face the practical consequences of the ongoing directions, and the bank must comply with the conditions of the extant order during the extension period.

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

RBI placed The Suri Friends’ Union Co-operative Bank Ltd., Suri (West Bengal) under operating restrictions under Section 35A. The bank faces limits on lending, investments, liabilities, deposits, payments, and asset disposals, with restricted withdrawals allowed up to ₹50,000.

The bank must operate under strict RBI-imposed restrictions until the direction is modified or expires. Customers face limits on withdrawals and the bank cannot expand lending, take fresh deposits, or freely use its assets/liabilities without prior RBI approval, affecting depositors and counterparties immediately from July 22, 2022.

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