Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Raigad Sahakari Bank Limited, Mumbai – Withdrawal of Directions

Case Brief

The Reserve Bank of India withdrew the Section 35A read with Section 56 Directions that had been issued to Raigad Sahakari Bank Limited, Mumbai on July 15, 2022. Those directions had been extended from time to time, with the last extension valid up to January 18, 2024. The withdrawal was made under Section 35A(2) read with Section 56 of the Banking Regulation Act, 1949, and took effect on December 28, 2023.