The Reserve Bank of India had issued Directions to Hindu Cooperative Bank Ltd., Pathankot, Punjab, under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD-IV No.D-9/12.28.311/2018-19 dated 13 March 2019, as modified from time to time, which were last extended up to 24 October 2021.
The Reserve Bank of India, on being satisfied that in the public interest it is necessary to do so, in the exercise of the powers vested in it under sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, withdraws with effect from close of business on 14 October 2021, the said Directions so issued to Hindu Cooperative Bank Limited, Pathankot, Punjab.
A copy of the Directive is displayed on the bank’s premises for perusal by interested members of the public.