The Reserve Bank of India vide its notification dated 29th September 2020 has extended the time limit for submission of accounts and balance-sheet together with the auditor’s report till 31st December 2020.
Under section 31 of the Banking Regulation Act, 1949 read with Section 56 the Act, accounts, and balance-sheet referred to in section 29 of the Act together with the auditor’s report shall be published in the prescribed manner and three copies thereof shall be furnished as returns to the Reserve Bank within three months from the end of the period to which they refer.
Therefore the above provision shall not apply to primary co-operative banks till 31st December 2020.
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