The Reserve Bank of India had issued Directions to The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra, under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. CO.DOS.SED. No.S175/45.11.001/2024-2025 dated April 05, 2024, for a period of six months up to the close of business on October 08, 2024.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on October 08, 2024.

3. 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 extends the Directive for a further period of three months from the close of business on October 08, 2024 to the close of business on January 08, 2025, subject to review.

4. All other terms and conditions of the Directive under reference shall remain unchanged.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2024-2025/1247