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    Nabard’s circular stayed:Hon’ble High court of Kerala, on 16th August 2013, granted stay on the implementation of Nabard’s Circular dated 22.07.2013. Nabard had issued directions to transfer the share capital, loans and deposits held by PACS to DCBs and to convert the former as Business Correspondents of DCBs in line with recommendations of Prakash Bakshi report. Registrar had instructed the DCBs not to implement the advice of Nabard. WPC 20345/13 (Kevayur & Karuvanthuruthi SCB’s)

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