The Reserve Bank of India issued Directions to Sri Mallikarjuna Pattana Sahakari Bank Niyamitha, Maski, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive BLR.DOS.SSMS. No. S558/13-03-225/2022-23 dated July 15, 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 BLR.DOS.SSMS. No. S558/13-03-225/2022-23 dated July 15, 2022 as modified from time to time, last being vide DOR.MON/D-08/12.23.225/2023-24 dated April 17, 2023 issued to Sri Mallikarjuna Pattana Sahakari Bank Niyamitha, Maski, 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 BLR.DOS.SSMS.No.S558/13-03-225/2022-23 dated July 15, 2022, issued to Sri Mallikarjuna Pattana Sahakari Bank Niyamitha, Maski, Karnataka, shall continue to apply to the bank for a further period of three months from July 19, 2023 to October 18, 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: 2023-2024/616