The Reserve Bank of India issued Directions to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, the validity of which was extended from time to time, last been vide Directive DOR.MON/D-73/12.23.283/2022-23 dated February 08, 2023 up to May 10, 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 DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka, and as last modified vide Directive DOR.MON/D-73/12.23.283/2022-23 dated February 08, 2023. 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 DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020 issued to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka, as modified vide Directive DOR.MON/D-73/12.23.283/2022-23 dated February 08, 2023, the validity of which was up to May 10, 2023, shall continue to apply to the bank for a further period of three months from May 11, 2023 to August 10, 2023, subject to review.

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

(Yogesh Dayal)      
Chief General Manager

Press Release: 2023-2024/207