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Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 The Mudhol Co operative Bank Limited, Dist- Bagalkot, Karnataka Extension of period
October, 08th 2020

The Reserve Bank of India issued All Inclusive Directions to The Mudhol Co-Operative Bank Limited, Dist- Bagalkot, Karnataka, under Section 35A 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 October 7, 2020 vide Directive DOR.CO.AID.No.D-94/12.23.094/2019-20, dated June 29, 2020.

2. 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-94/12.23.094/2019-20 dated June 29, 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 October 7, 2020 vide Directive DOR.CO.AID.No.D-94/12.23.094/2019-20 dated June 29, 2020, shall continue to apply to the bank for a further period of six months from October 8, 2020 to April 7, 2021, subject to review.

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

(Yogesh Dayal)      
Chief General Manager

Press Release: 2020-2021/442

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