RBI removes fetters imposed on Nashik Girna Bank
Published: Nov 03, 2017
By TIOLCORPLAW News Service
NEW DELHI, NOV 03, 2017: The Reserve Bank of India (RBI) has withdrawn all inclusive directions issued vide order dated September 08, 2015 to Nashik District Girna Sahakari Bank Ltd., Nashik, Maharashtra with effect from November 02, 2017. The withdrawal of Directions has been in exercise of powers vested in the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). The bank will continue to undertake regular banking business hereafter.