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Reserve Bank of India : Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Millath Co-operative Bank Limited, Davangere, Karnataka – Extension of period

05/07/2021 | 11:36pm EDT

�ेस�काशनी PRESS RELEASE

भारतीय �रज़व�ब�क

संचारिवभाग, क� �ीयकायार्लय, एस.बी.एस.मागर्, मुंबई-400001

RESERVE BANK OF INDIA

वेबसाइट: www.rbi.org.in/hindi

_____________________________________________________________________________________________________________________

Website : www.rbi.org.in

Department of Communication, Central Office, S.B.S.Marg, Mumbai-400001

फोन/Phone: 022- 22660502

-मेल/email: helpdoc@rbi.org.in

May 08, 2021

Directions under Section 35A read with Section 56 of the Banking Regulation

Act, 1949 - Millath Co-operative Bank Limited, Davangere, Karnataka -

Extension of period

The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD III.D-12 /12.23.096/2018-19 dated April 26, 2019, as modified from time to time, which were last extended up to May 7, 2021 vide Directive DOR.CO.RTG.MON.D- 57/12.23.096/2020-21 dated February 05, 2021.

  1. 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.D-12 /12.23.096/2018-19 dated April 26, 2019 issued to Millath Co-operative Bank Limited, Davangere, Karnataka, and as modified from time to time, last being vide Directive DOR.CO.RTG.MON.D57/12.23.096/2020-21 dated February 05, 2021. 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-12 /12.23.096/2018-19 dated April 26, 2019, issued to Millath Co-operative Bank Limited, Davangere, Karnataka, as modified from time to time, the validity of which was last extended up to May 7, 2021 vide Directive DOR.CO.RTG.MON.D-57/12.23.096/2020- 21 dated February 05, 2021, shall continue to apply to the bank for a further period of three months from May 8, 2021 to August 7, 2021, subject to review.
  2. Other terms and conditions of the Directives under reference shall remain unchanged.

Press Release: 2021-2022/185

(Yogesh Dayal)

Chief General Manager

Disclaimer

Reserve Bank of India published this content on 08 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2021 03:35:01 UTC.


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