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Date : Jan 08, 2023
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – Shushruti Souharda Sahakara Bank Niyamita, Bengaluru, Karnataka – Extension of period

The Reserve Bank of India issued Directions to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.DSD.No.S98/10-01-23/2022-23 dated April 07, 2022, which were extended from time to time, last being up to January 07, 2023, vide Directive DOR.MON/D-34/10.01.023/2022-23 dated October 06, 2022.

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 CO.DOS.DSD.No.S98/10-01-23/2022-23 dated April 07, 2022, as modified from time to time, last being vide Directive DOR.MON/D-34/10.01.023/2022-23 dated October 06, 2022, issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru. Accordingly, the Reserve Bank of India, in the 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 CO.DOS.DSD.No.S98/10-01-23/2022-2023 dated April 07, 2022, issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru, as modified from time to time, the validity of which was last extended up to January 07, 2023, vide Directive DOR.MON/D-34/10.01.023/2022-23 dated October 06, 2022, shall continue to apply to the bank for a further period of three months from January 08, 2023, to April 07, 2023, subject to review.

3. 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: 2022-2023/1512


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