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Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh)
January, 11th 2018

The Reserve Bank of India has notified that in partial modification of its directive it has, vide directive dated July 03, 2017, relaxed the directions imposed on Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh). Now, a sum not exceeding 30,000/- (Rupees Thirty Thousand only) may be allowed to be withdrawn by a depositor, subject to the conditions specified in the modified directive. All other provisions of the earlier directive dated July 03, 2017 shall remain unchanged. Also, the bank has been under directions u/s 35A of the Banking Regulation Act, 1949 (AACS) w.e.f. close of business as on July 10, 2017. The same has been extended till July 10, 2018 vide directive dated January 08, 2018. A copy of the directive dated January 08, 2018 is displayed at the bank’s premises for the perusal of public.

The above relaxation has been granted with a view to reduce the hardship of the depositors and should not be construed as improvement or deterioration in the financial position of the bank. The Reserve Bank may consider modifications of the directive depending upon circumstances.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/1897

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