DIRECTIONS UNDER SECTION 35 A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 (AS APPLICABLE TO CO-OPERATIVE SOCIETIES) - PADMASHRI DR. VITHALRAO VIKHE PATIL CO-OPERATIVE BANK LTD. NASHIK

MUMBAI, India, July 17 -- Reserve Bank of India issued the following press release:

It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S2909/12-22-395/2026-2027 dated July 16, 2026, has issued certain Directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd. Nashik ("the bank"), whereby, as from the close of business on July 17, 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 includi...