Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra – Extension of Period

The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra vide Directive No. NGP.DoS.SSM 3.No.S675/15.03.302/2023-2024 dated August 28, 2023, for a period of six months up to the close of business on February 29, 2024, as modified from time to time, which were last extended up to the close of business on August 29, 2024 vide Directive DOR.MON.D-18/12-22-740/2024-25 dated May 22, 2024.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on August 29, 2024.

3. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from the close of business on August 29, 2024 to the close of business on November 29, 2024, subject to review.

4. All other terms and conditions of the Directive under reference shall remain unchanged.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/984