DIRECTIONS UNDER SECTION 35 A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - SRI MAHATMA BASAVESHWAR CO-OPERATIVE BANK LTD., AFZALPUR

MUMBAI, India, Oct. 8 -- Reserve Bank of India issued the following press release:

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. BLR.DOS.SSMS.No.S1220/09-01-243/2026-2027 dated October 07, 2026, has issued certain Directions to Sri Mahatma Basaveshwar Co-operative Bank Ltd., Afzalpur, ("the bank"), whereby, as from the close of business on October 08, 2026, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fre...