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

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The Reserve Bank of India issued All Inclusive Directions to The Mudhol Co-Operative Bank Limited, Dist- Bagalkot, Karnataka, under Section 35 A 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 April 07, 2021 vide Directive DOR.CO.AID.No. D-26/12.23.094/2020-21, dated October 05, 2020.

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-26/12.23.094/2020-21 dated October 05, 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 April 07, 2021 vide Directive DOR.CO.AID.No.D-26/12.23.094/2020-21 dated October 05, 2020, shall continue to apply to the bank for a further period of three months from April 08, 2021 to July 07, 2021, subject to review.

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

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