At least for a change one of the UCBs based in Nandurbar in Maharashtra has got all the directions imposed on it by the regulator RBI withdrawn, according to a press release.
The Reserve Bank of India has withdrawn the All Inclusive Directions issued to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd based in Nandurbar, Maharashtra, the release read.
The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies).
A copy of the order is displayed on the banks premises for perusal by interested members of public. The bank will continue to undertake regular banking business hereafter.
