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Date: 01/07/2020
Directions under Section 35 A of Banking Regulation Act, 1949 - Youth Development Co-operative Bank Ltd., Kolhapur, Maharashtra

Youth Development Co-operative Bank Ltd. Kolhapur Maharashtra, was placed under directions vide Directive DCBS.CO.BSD-I/D-06/12.22.311/2018-19 dated January 04, 2019 from close of business on January 05, 2019. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive DOR.CO.AID/D-46/12.22.311/2019-20 dated January 01, 2020 and was valid up to July 05, 2020, subject to review.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of 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 DCBS.CO.BSD-I/D-06/12.22.311/2018-19 dated January 04, 2019, as modified from time to time, issued to the above bank, the validity of which was last extended upto July 05, 2020 shall continue to apply to the bank for a further period of six months from July 06, 2020 to January 05, 2021 vide Directive DOR.CO.AID/D-93/12.22.311/2019-20 dated June 29, 2020, subject to review. All other terms and conditions of the Directives under reference shall remain unchanged.

3. A copy of the directive dated June 29, 2020 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and/or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/4

 
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