DIRECTIONS UNDER SECTION 35A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - PADMASHRI DR. VITHALRAO VIKHE PATIL CO-OPERATIVE BANK LTD., NASHIK, MAHARASHTRA - WITHDRAWAL OF DIRECTIONS

MUMBAI, India, May 16 -- Reserve Bank of India issued the following press release:

The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra vide Directive No. DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018 for a period of six months up to the close of business on November 18, 2018. The same were modified from time to time and were last extended up to the close of business on May 17, 2025.

2. After reviewing the financial position of the bank, the Reserve Bank of India on being satisfied that in the public interest it is necessary to do so and in exercise of the powers vested in it und...