Youth Development Co-op. Bank Ltd., Kolhapur, Maharashtra

RBI extended the Section 35A directions on Youth Development Co-op. Bank Ltd., Kolhapur for another six months. The existing restrictions continue unchanged.

The bank remains subject to the same RBI operating restrictions for the extended period through July 05, 2020, and must continue complying with all unchanged conditions in the directive. The action affects the bank and, indirectly, its customers and counterparties who remain constrained by those directions.

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

RBI extended the existing Section 35A directions on Youth Development Co-op. Bank Ltd., Kolhapur for another six months. The bank remains subject to the same conditions as before.

The bank continues to operate under the same RBI-imposed restrictions until January 05, 2020, unless modified earlier on review. Customers and counterparties remain affected by the ongoing operational constraints attached to the Section 35A directive.

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