The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to July 10, 2020, as modified from time to time, which were last extended up to the close of business on February 10, 2024 vide Directive DOR.MON/D-86/12.23.283/2023-24 dated November 07, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond February 10, 2024.

2. Accordingly, the Reserve Bank of India, in exercise of the 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 the close of business on February 10, 2024 to the close of business on May 10, 2024, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)      
Chief General Manager

Press Release: 2023-2024/1814