Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Durga Co-operative Urban Bank Ltd., Vijayawada – Extension of Period

It is hereby informed that the Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months up to January 29, 2023 as modified from time to time, which were last extended up to the close of business on April 29, 2024 vide Directive No. DOR.MON/D-117/12.24.020/2023-24 dated January 24, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of Directive beyond April 29, 2024.

2. 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 extends the Directive for a further period of three months from close of business of April 29, 2024, to close of business of July 29, 2024, subject to review.

3. Other terms and conditions of the Directive under reference shall remain unchanged.

(Yogesh Dayal)
Chief General Manager

Press Release: 2024-2025/163