It is hereby informed that the Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Uravakonda Co-operative Town Bank Ltd., Uravakonda (Anantapur District) vide Directive No. AP.DOS.INSP1.No.S89/03-02-097/2022-2023 dated February 23, 2023, for a period of six months up to August 24, 2023 as modified from time to time, which was last extended up to November 24, 2023 vide Directive No. DOR.MON/D-58/12.22.789/2023-24 dated August 09, 2023. 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 November 24, 2023.

2. 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 extends the Directive for a further period of three months from November 25, 2023 to February 24, 2024, subject to review.

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

(Yogesh Dayal)      
Chief General Manager

Press Release: 2023-2024/1311