Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Loknete R.D. (Appa) Kshirsagar Sahakari Bank Ltd., Niphad, Tal. Niphad, Dist. Nashik – Extension of Period
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Loknete R.D. (Appa) Kshirsagar Sahakari Bank Ltd., Niphad, Tal. Niphad, Dist. Nashik, vide Directive No. CO.DOS.SED. No. S6986/ 12-22-482/2025-2026 dated December 15, 2025, for a period of six months up to the close of business on June 16, 2026, which were last extended up to…
The Reserve Bank of India extended the period of operation of a directive issued to Loknete R.D. (Appa) Kshirsagar Sahakari Bank Ltd. in Niphad, Nashik. This was done under Section 35A read with Section 56 of the Banking Regulation Act, 1949, as stated in Directive No. CO.DOS.SED. No. S6986/ 12-22-482/2025-2026, issued on December 15, 2025. The extension, which was previously made until September 16, 2026, was made for an additional six months, making the total period until June 16, 2026.
The Reserve Bank of India, in its exercise of powers under the mentioned sections, decided to further extend the directive for another three months, from September 16, 2026, to December 16, 2026. This extension was deemed necessary for the public interest, according to the Reserve Bank of India. However, the aforesaid extension should not be taken as an indication of the bank's financial status. The other terms and conditions of the directive remain unchanged.
Written by urgent.news from Reserve Bank of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
