Reserve Bank had issued directions to The Panihati Co-operative Bank Limited, Panihati, Kolkata, West Bengal with effect from April 24, 2014 due to its precarious financial position.
The directions were subsequently extended from time to time upto October 23, 2015.
Now, on being satisfied, The Reserve Bank has withdrawn directions imposed on The Panihati Co-operative Bank Limited, Panihati, Kolkata with effect from close of business of October 16, 2015.
However, the bank would continue to operate under operational instructions.
