Mumbai (08/01/2022): 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 02, 2019, as modified from time to time, which were last extended up to January 07, 2022 vide Directive DOR.MON.No.D-22/12.23.094/2020-21 dated July 05, 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 DCBS.CO.BSD-III.D-11/12.23.094/2018-19 dated April 02, 2019 issued to The Mudhol Co-operative Bank Limited, Dist.- Bagalkot, Karnataka and as modified from time to time, last being vide Directive DOR.MON.No.D-22/12.23.094/2020-21 dated July 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-11/12.23.094/2018-19 dated April 02, 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 January 07, 2022 vide Directive DOR.MON.No.D-22/12.23.094/2020-21 dated July 05, 2021, shall continue to apply to the bank for a further period of three months from January 08, 2022 to April 07, 2022, subject to review.
3. Other terms and conditions of the Directives under reference shall remain unchanged.
