The Municipal Co-operative Bank Ltd., Ahmedabad was imposed directions by Reserve Bank of India vide its Directive UBD.CO.NSB.II/D-85/12.21.114/2009-10 dated February 8, 2010, effective from close of business on February 15, 2010, in exercise of the powers vested under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). The period of Directions imposed which was expiring on August 14, 2013, has since been further extended by six months i.e. up to February 14, 2014, subject to review, vide modified Directive No.UBD.CO.BSD II/D-3/12.21.114/2013-14 dated August 6, 2013. The detailed modified Directive is displayed on the bank's premises for interested members of the public to persue.

Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/405