The Government of Maharashtra on July 04, 2024, issued a notification regarding an extension to the One Time Settlement scheme of Urban Co-Operative Bank.
The following has been stated: -
•To implement the Lump Sum Loan Repayment Scheme for Urban Co-operative Banks as mentioned in Annexure "A" attached to this notification extension is being given till March 31, 2025.
•In order to implement this scheme, the Government in the exercise of its powers under Section-1157 of the Maharashtra Co-operative Societies Act, 1960 exempts the Urban Co-operative Banks in Maharashtra from the provisions of Rule 49 of the Maharashtra Co-operative Societies Rules, 1961 for implementing the scheme subject to the guidelines of the Reserve Bank of India.
[Notification No: URB-1807/P.No.459(B)/7-S]
