The Reserve Bank of India issued Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 to The Mapusa Urban Co-Operative Bank of Goa Ltd., Goa vide Directive DCBS.CO.BSD-I No.D-6/12.22.156/2015-16 dated July 24, 2015, as modified from time to time, last being vide Directive DOR.AID/D-39/12.22.156/2019-20 dated November 15, 2019 which extended the Directions upto February 18, 2020.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DCBS.CO.BSD-I No.D-6/12.22.156/ 2015-16 dated July 24, 2015 issued to Mapusa Urban Co-Operative Bank of Goa Ltd.,Goa, as modified from time to time for a further period of two months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive No. DCBS.CO.BSD-I No.D-6/12.22.156/2015-16 dated July 24, 2015 issued to Mapusa Urban Co-Operative Bank of Goa Ltd., Goa, as modified from time to time, the validity of which was last extended up to February 18, 2020, shall continue to apply to the bank for a further period of two months from February 19, 2020 to April 18, 2020 subject to review.

Other terms and conditions of the Directives under references, as modified from time to time, shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2019-2020/1968