The Reserve Bank of India issued Directions to Thodupuzha Urban Co-operative Urban Bank Ltd, Kerala under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), vide Directive No. CO.DOS.SED.No.S3361/12.07.005/2022-23 dated August 23, 2022, from close of business on August 23, 2022, for a period of six months, which was last extended vide the Directive DOR.MON/D-77/12.16.051/2022-23 dated February 23, 2023 for a further period of three months, i.e., up to May 23, 2023.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the aforesaid Directions. Accordingly, vide the Directive DOR.MON/D-25/12.16.051/2023-24 dated May 23, 2023 in exercise of powers vested in it under sub-section (1) of section 35A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has directed that the Directive No. CO.DOS.SED.No.S3361/12.07.005/2022-23 dated August 23, 2022, issued to Thodupuzha Urban Co-operative Bank Limited, Kerala, the validity of which was last extended up to May 23, 2023, shall continue to apply to the bank for a further period of three months, i.e., from May 24, 2023 to August 23, 2023, subject to review. 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: 2023-2024/275