On Monday, Reserve Bank of India withdrew the directions on Dwarkadas Mantri Nagarik Sahakari Bank and extended the period of directions on Purvanchal Cooperative Bank.
After reviewing the financial position of the Beed (Maharashtra) based Dwarkadas Mantri Nagarik Sahakari Bank bank, the Reserve Bank of India withdrew the directions issued to the bank.
The directions on the bank were first issued on 9th March 2022 for a period of six months and the validity of the same were extended from time to time, the last being up to March 09, 2024.
Besides, the directions on Purvanchal Cooperative Bank shall continue to apply on to the bank from close of business on February 29, 2024 to close of business on May 29, 2024.
“All other terms and conditions of the Directions under reference shall remain unchanged. A copy of the Directive dated February 23, 2024 notifying the above extension is displayed at the bank’s premises for the perusal of members and public”, RBI press release added.