The Reserve Bank of India issued All Inclusive Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022 for a period of six months up to January 29, 2023.

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 CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022 issued to The Karmala Urban Co-operative Bank Limited, Solapur. 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 CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, issued to The Karmala Urban Co-operative Bank Limited, Solapur, shall continue to apply to the bank for a further period of three months from January 30, 2023 to April 29, 2023, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1631