Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 Youth Development Cooperative Bank Ltd., Kolhapur, Maharashtra - Extension of Period
January, 05th 2021
Reserve Bank of India vide directive DCBS.CO.BSD-I/D-6/12.22.311/2018-19 dated January 04, 2019 had placed the Youth Development Cooperative Bank Limited, Kolhapur, Maharashtra under Directions from the close of business on January 05, 2019 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to January 05, 2021.
It is hereby notified for the information of the public that, Reserve Bank of India, in exercise of 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 aforesaid Directions shall continue to apply to the bank till April 05, 2021 as per the directive DOR.CO.AID No.D-49/12.22.311/2020-21 dated January 04, 2021, subject to review.
All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated January 04, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.
The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.