Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Faiz Mercantile Cooperative Bank Ltd., Nashik-Extension of Period

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Summary:

The Reserve Bank of India (RBI) has issued a directive to The Faiz Mercantile Cooperative Bank Ltd., Nashik, extending the period of operation of a previous direction from September 3, 2023 to December 3, 2023. The original direction was issued for a period of six months, and the RBI has extended it for an additional three months to ensure the public interest is maintained. The terms and conditions of the original directive remain unchanged.