The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Garha Co-operative Bank Ltd., Guna vide Directive DoS.CO.UCBs-West/D-3/12.07.005/2020-21 dated February 23, 2021, for a period of six months upto August 24, 2021.

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.UCBs-West/D- 3/12.07.005/2020-21 dated February 23, 2021, issued to Garha Co-operative Bank Ltd., Guna. Accordingly, the Reserve Bank of India, in exercise of the 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 DoS.CO.UCBs-West/D- 3/12.07.005/2020-21 dated February 23, 2021, shall continue to apply to the bank for a further period of three months from August 25, 2021 to November 24, 2021, subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/737