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Date : Apr 08, 2021
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – The Mudhol Co-operative Bank Limited, Dist- Bagalkot, Karnataka – Extension of period

The Reserve Bank of India issued All Inclusive Directions to The Mudhol Co-Operative Bank Limited, Dist- Bagalkot, Karnataka, under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD-III.D-11/12.23.094/2018-19 dated April 2, 2019, as modified from time to time, which were last extended up to April 07, 2021 vide Directive DOR.CO.AID.No. D-26/12.23.094/2020-21, dated October 05, 2020.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DCBS.CO.BSD-III.No. D-11/12.23.094/2018-19 dated April 2, 2019 issued to The Mudhol Co-Operative Bank Limited, Dist- Bagalkot, Karnataka and as modified from time to time, last being vide Directive DOR.CO.AID.No.D-26/12.23.094/2020-21 dated October 05, 2020. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD-III.D-11/12.23.094/2018-19 dated April 2, 2019, issued to The Mudhol Co-Operative Bank Limited, Dist- Bagalkot, Karnataka, as modified from time to time, the validity of which was last extended up to April 07, 2021 vide Directive DOR.CO.AID.No.D-26/12.23.094/2020-21 dated October 05, 2020, shall continue to apply to the bank for a further period of three months from April 08, 2021 to July 07, 2021, subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/24


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