The Reserve Bank of India issued Directions to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.DSD.No.S98/10-01-023/2022-23 dated April 07, 2022.

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.S98/10-01-023/2022-23 dated April 07, 2022 issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru, Karnataka. 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 CO.DOS.DSD.No.S98/10-01-023/2022-23 dated April 07, 2022, issued to Shushruti Souharda Sahakara Bank Niyamita, Bengaluru, Karnataka, shall continue to apply to the bank for a further period of three months from October 08, 2022 to January 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: 2022-2023/1016