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Date : Nov 24, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Garha Co-operative Bank Ltd., Guna, Madhya Pradesh – Extension of period

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Garha Co-operative Bank Ltd., Guna vide Directive DoS.CO.UCBs-West/D-3/12.07.005/2020-21 dated February 23, 2021, the validity of which was last extended vide Directive DOR.MON.D-30/12.27.087/2021-22 dated August 23, 2021 up to November 24, 2021.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DoS.CO.UCBs-West/D-3/12.07.005/2020-21 dated February 23, 2021, issued to Garha Co-operative Bank Ltd., Guna, as modified vide Directive DOR.MON.D-30/12.27.087/2021-22 dated August 23, 2021. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DoS.CO.UCBs-West/D-3/12.07.005/2020-21 dated February 23, 2021, issued to Garha Co-operative Bank Ltd., Guna, the validity of which was last extended vide Directive DOR.MON.D-30/12.27.087/2021-22 dated August 23, 2021 up to November 24, 2021, shall continue to apply to the bank for a further period of three months from November 25, 2021 to February 24, 2022, subject to review.

Other terms and conditions of the Directive under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1244


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