**Summary:**
This notification, S.O. 3377(E), issued by the Ministry of Finance, Department of Financial Services, on September 29, 2020, declares that, based on the recommendation of the Reserve Bank of India, the provisions of section 31 read with clause t of section 56 of the Banking Regulation Act, 1949 (10 of 1949) shall not apply to primary cooperative banks until December 31, 2020. The notification is issued in exercise of the powers conferred by subsection 1 of section 53 of the aforementioned Act. The notification was issued under F. No. 7/104/2020-BOA. The Joint Secretary, Amit Agrawal, is listed as the contact.
Key Entities Referenced
Banking Regulation Act, 1949: An act of the Parliament of India to regulate the banking companies in India.
Reserve Bank of India: The central bank of India.
Central Government: The executive authority of the Union of India.
Ministry of Finance: A ministry in the Government of India responsible for the financial matters of the country.
Department of Financial Services: A department under the Ministry of Finance in the Government of India.
New Delhi: The capital of India.
Primary Cooperative Banks: Refers to cooperative banks operating at the grassroots level, primarily serving rural or semi-urban populations.
Amit Agrawal: Joint Secretary in the Ministry of Finance.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
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सी.जी.-डी.एxलxx.-GअID.-E2x9xx0 92020-222101
CG-DL-E-29092020-222101
असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 3014] नई ददल्ली, मगं लिार, जसतम्ब र 29, 2020/आजि न 7, 1942
No. 3014] NEW DELHI, TUESDAY, SEPTEMBER 29, 2020/ASVINA 7, 1942
जित्त मत्रं ालय
(जित्तीय सिे ाएं जिभाग)
अजधसचू ना
नई ददल्ली, 29 जसतम्बर, 2020
का.आ. 3377(अ).—बैंककारी जिजनयमन अजधजनयम, 1949 (1949 का 10) की धारा 53 की उप-धारा (1) द्वारा
प्रदत्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, भारतीय ररििव बैंक की जसफाररि पर, एतद्द्वारा, यह घोषणा करती ह ै
दक उि अजधजनयम की धारा 56 के खण्ड (न) के साथ परित धारा 31 के उपबंध 31 ददसम्बर, 2020 तक प्राथजमक सहकारी
बैंकों पर लाग ूनहीं होंगे।
[फा. स.ं 7/104/2020-बीओए-I]
अजमत अग्रिाल, संयुि सजचि
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 29th September, 2020
S.O. 3377(E).––In exercise of the powers conferred by sub-section (1) of section 53 of the Banking
Regulation Act, 1949 (10 of 1949), the Central Government, on the recommendation of the Reserve Bank of
India, hereby declare that the provisions of section 31 read with clause (t) of section 56 of the said Act shall not
apply to primary co-operative banks till 31st December, 2020.
[F. No. 7/104/2020-BOA-I]
AMIT AGRAWAL, Jt. Secy.
4607 GI/2020
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.