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Date: 30/04/2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra – Extension of Period

The Reserve Bank of India vide directive DCBS.CO.BSD-I./D-9/12.22.111/2016-17 dated March 30, 2017 had placed The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra under Directions from the close of business on March 30, 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021.

2. It is hereby notified for the information of the public that 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 aforesaid Directions shall continue to apply to the bank till October 31, 2021 as per the directive DOR.MON.D-7/12.22.111/2021-22 dated April 29, 2021, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated April 29, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/146

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