Withdrawal of All Inclusive Directions under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (AACS) – Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra

Case Brief

The Reserve Bank of India has withdrawn the All Inclusive Directions previously imposed on Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS). The withdrawal was issued under Section 35A(2) and took effect from the close of business on March 26, 2019. The release states that the bank will continue to undertake regular banking business thereafter.