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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.

Press Release


PDF document (298 kb)
Date : Jan 27, 2023
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 - Durga Co-operative Urban Bank Ltd., Vijayawada – Extension of period

The Reserve Bank of India issued Directions to Durga Co-operative Urban Bank Ltd., Vijayawada under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. Hyd.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months upto January 29, 2023.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of Directive No. Hyd.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022, issued to Durga Co-operative Urban Bank Ltd., Vijayawada. 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 Directive No. Hyd.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022, issued to Durga Co-operative Urban Bank Ltd., Vijayawada, shall continue to apply to the bank for a further period of three months from January 30, 2023 to April 29, 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: 2022-2023/1625


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