News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
  Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders
 Availability of National Electronic Funds Transfer (NEFT) System on 24x7 basis
 Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders
 RBI releases “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”
 Exim Bank's Government of India supported Line of Credit (LOC) of USD 500 million to the Government of Bangladesh
 Prohibition of Benami Property Transactions (1st Amendment), Rules, 2019
  Application for initiation of corporate insolvency resolution process against Dewan Housing Finance Corporation Limited filed under the Insolvency and Bankruptcy Code, 2016
 RBI-Auction of Government of India Dated Securities December 02, 2019
 Application for initiation of corporate insolvency resolution process against Dewan Housing Finance Corporation Limited filed under the Insolvency and Bankruptcy Code, 2016
  Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 - Amendment
 Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 - Amendment

RBI extends Directions issued to Navodaya Urban Co-operative Bank Ltd, Nagpur, Maharashtra
June, 19th 2017

The Reserve Bank of India has extended the Directions earlier issued to Navodaya Urban Co-operative Bank Ltd, Nagpur for further four months. The Directions are now valid up to October 15, 2017, subject to review. The bank was earlier placed under directions from March 16, 2017 to June 15, 2017.

The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy of the Directions is displayed on the bank's premises for perusal by interested members of public.

The issue of the Directions by the Reserve Bank should per se not be construed as cancellation of banking license by the Reserve Bank. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

Anirudha D. Jadhav
Assistant Manager

Press Release: 2016-2017/3403

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting