Action on Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit
Case Brief
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on May 04, 2012 to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra, effective from the close of business on May 02, 2016. The withdrawal was made under Section 35A(2) of the Banking Regulation Act, 1949 (as applicable to cooperative societies).
The Reserve Bank of India withdrew the All Inclusive Directions issued on May 04, 2012 to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra. The withdrawal was exercised under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies).
Severity Assessment
This is a withdrawal of prior restrictions, so there is no forward-looking adverse impact and severity is 0.
The bank is no longer operating under the prior Section 35A directions and may continue regular banking business. Depositors and other stakeholders are no longer subject to the restrictions that had been in force, effective from the close of business on May 02, 2016.
Published as Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra
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