Banking

Reserve Bank of India – Press Releases

Read more at www.rbi.org.in

The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Ltd., 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 upto February 07, 2021 vide Directive DOR.CO.AID.No.D-34/12.23.096/2020-21 dated November 03, 2020.

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-12/12.23.096/2018-19 dated April 26, 2019 issued to Millath Co-operative Bank Ltd., Davangere, Karnataka, and as modified from time to time, last being vide Directive DOR.CO.AID.No.D-34/12.23.096/2020-21 dated November 03, 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-12/12.23.096/2018-19 dated April 26, 2019 issued to Millath Co-operative Bank Ltd., Davangere, Karnataka, as modified from time to time, the validity of which was last extended upto February 07, 2021 vide Directive DOR.CO.AID.No.D-34/12.23.096/2020-21 dated November 03, 2020, shall continue to apply to the bank for a further period of three months from February 08, 2021 to May 07, 2021, subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1061

Read more at www.rbi.org.in

Show More

Related Articles

Back to top button