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Date : Jan 22, 2023
Extension of validity of Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - National Urban Co-operative Bank Ltd., Bahraich (U.P.)

The Reserve Bank of India (RBI) has extended the directions issued to the National Urban Co-operative Bank Ltd., Bahraich (U.P.) for a period of three (03) months from January 23, 2023 to April 22, 2023, subject to review. The bank has been under direction from the close of business of July 22, 2022 vide directive order CO.DOS.SED.No.S2575/12-07-005/2022-23 dated July 21, 2022 issued under section 35 A read with section 56 of the Banking Regulation Act, 1949 (AACS).

The validity of the directive, which was issued up to January 22, 2023 has been extended for a period of three (03) months from January 23, 2023 to April 22, 2023 vide directive order DOR.MON.D-61/12.28.075/2022-23 dated January 20, 2023 subject to review. A copy of the directive order dated January 20, 2023 is displayed at the bank’s premises for the perusal of public.

The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1590


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