The Reserve Bank of India issued All Inclusive Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka, vide Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, the validity of which is up to August 19, 2021.
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 DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, issued to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka. Accordingly, the Reserve Bank of India, in exercise of the 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 Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, the validity of which is up to August 19, 2021, shall continue to apply to the bank for a further period of six months from August 20, 2021 to February 19, 2022, subject to review.
3. Other terms and conditions of the Directive under reference shall remain unchanged.
