The Reserve Bank of India in the public interest, had issued directions to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana in exercise of powers vested in it under Section 35A read with section 56 of the Banking Regulation Act, 1949. These directions were in force from close of business on January 02, 2019 and were valid up to July 02, 2019, subject to review.
Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive issued to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad, Telangana for a further period of six months from July 03, 2019 to January 02, 2020, subject to review. Other terms and conditions of the Directive shall remain unchanged.
A copy of the directive is displayed at the bank’s premises for perusal of the public.
Chief General Manager
Press Release: 2019-2020/93