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 were extended from time to time, last being up to August 23, 2023, vide Directive No. DOR.MON.D-25/12.16.051/2023-24 dated 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 DOR.MON.D-60/12.16.051/2023-24 dated August 22, 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 August 23, 2023, shall continue to apply to the bank for a further period of three months, i.e., from August 24, 2023, to November 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: 2023-2024/797