The Reserve Bank of India issued Directions to Durga Co-operative Urban Bank Ltd., Vijayawada under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months upto January 29, 2023 which were further extended vide Directive No. DOR.MON/D-69/12.24.020/2022-23 dated January 25, 2023 for a period of three months upto April 29, 2023.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022, issued to Durga Co-operative Urban Bank Ltd., Vijayawada as modified vide Directive No. DOR.MON/D-69/12.24.020/2022-23 dated January 25, 2023. Accordingly, the Reserve Bank of India, in the 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 Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022, issued to Durga Co-operative Urban Bank Ltd., Vijayawada, the validity of which was last extended up to April 29, 2023 vide Directive No. DOR.MON/D-69/12.24.020/2022-23 dated January 25, 2023 shall continue to apply to the bank for a further period of three months from April 30, 2023, to July 29, 2023 subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/145