Reserve bank of India lifts restrictions

Hyderabad, July 27: President of the Andhra Pradesh State Cooperative Bank Vasanta Nageswara Rao today said that the Reserve Bank of India (RBI) had lifted the restrictions placed on Srikakulam and Vizianagaram District Cooperative Central (DCC) Banks under Section 35(2) of Banking Regulation Act 1949.

He said in a statement here, the RBI lifted the restrictions with immedite effect as per the communication received from RBI Mumbai.

He said consequently the Srikakulam and Viziangaram DCC Banks could resume their normal banking operations fully without any restrictions.

UNI