Case brief
RBI withdrew the Section 35A directions earlier issued to Thodupuzha Urban Co-operative Bank Ltd., Kerala. The withdrawal takes effect from close of business on January 20, 2025.
Impact
The earlier RBI operating directions no longer apply from the stated effective time, so the bank is restored from that restriction. There is no ongoing withdrawal cap or other forward-looking operational constraint described in this release.
Why RBI acted
Regulatory basis
- Section 35A read with Section 56 of the Banking Regulation Act, 1949
- sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949