REGULATING CO-OPERATIVE BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country's financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.


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Date : Nov 18, 2019
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Mapusa Urban Co-operative Bank of Goa Ltd. – Extension of Period of Directions

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Mapusa Urban Co-Operative Bank of Goa Ltd., Goa vide Directive DCBS.CO.BSD-I No.D-06/12.22.156/2015-16 dated July 24, 2015, as modified from time to time, last being vide Directive DCBR.CO. AID/D-08/12.22.156/2019-20 dated August 13, 2019 which extended the Directions upto November 18, 2019.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DCBS.CO.BSD-I No.D-06/12.22.156/2015-16 dated July 24, 2015 issued to Mapusa Urban Co-Operative Bank of Goa Ltd., Goa, as modified from time to time for a further period of three months. Accordingly, the Reserve Bank of India, in 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 No.DCBS.CO.BSD-I No.D-06/12.22. 156/2015-16 dated July 24, 2015 issued to Mapusa Urban Co-Operative Bank of Goa Ltd., Goa, as modified from time to time, the validity of which was last extended up to November 18, 2019, shall continue to apply to the bank for a further period of three months from November 19, 2019 to February 18, 2020 subject to review.

Other terms and conditions of the Directives under references as modified from time to time shall remain unchanged.

(Yogesh Dayal)      
Chief General Manager

Press Release: 2019-2020/1211


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