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Date : Sep 06, 2022
Directions under Section 35A read with Section 56 of the BR Act 1949 (AACS)- The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala- Extension of period

The Reserve Bank of India issued Directions to The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), vide Directive DCBS.CO.PCC D-4/12.26.004/2018-19 dated November 02, 2018, from close of business on November 09, 2018, for a period of six months, which were extended from time to time, last being up to September 09, 2022 vide the Directive DOR.MON/D-15/12.26.004/2022-23 dated May 31, 2022.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the aforesaid Directions. Accordingly, vide the Directive DOR. MON/D-29/12.26.004/2022-23 dated September 05, 2022, in exercise of powers vested in it under sub-section (1) of section 35A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has directed that the Directive DCBS.CO.PCC.D-4/12.26.004/2018-19 dated November 02, 2018, issued to The Adoor Co-operative Urban Bank Limited, Adoor, Kerala, the validity of which was last extended up to September 09, 2022, shall continue to apply to the bank for a further period of three months, from September 10, 2022 to December 09, 2022, subject to review. Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/829


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