The period of directions imposed by Reserve Bank of India (RBI) on The Municipal Co-operative Bank Ltd., Ahmedabad, vide its directive UBD.CO.BSD II No./D-70/12.21.114/2011-12 dated February 01, 2012, expiring on August 14, 2012, has since been further extended by six months i.e. up to February 14, 2013, subject to review, vide modified directive No. UBD.CO.BSD II/D-02/12.21.114/2012-13 dated July 25, 2012, in exercise of the powers vested under sub–section (1) of Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). The detailed modified directive is displayed on the bank’s premises for interested members of the public to peruse.

Ajit Prasad
Assistant General Manager

Press Release: 2012-2013/245