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Date : Apr 08, 2023
Directions under Section 35A 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 35A 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 April 07, 2023, vide Directive DOR.MON/D-55/10.01.023/2022-23 dated January 06, 2023.

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-55/10.01.023/2022-23 dated January 06, 2023, 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 April 07, 2023, vide Directive DOR.MON/D-55/10.01.023/2022-23 dated January 06, 2023, shall continue to apply to the bank for a further period of three months from April 08, 2023, to July 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: 2023-2024/38


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