The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka vide Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, the validity of which was last extended up to May 19, 2022, vide Directive DOR.MON.D-63/12.23.042/2021-22 dated February 18, 2022.

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.UCBSouth/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, as modified vide Directive DOR.MON.D-63/12.23.042/2021-22 dated February 18, 2022, issued to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka. 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.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, issued to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka, the validity of which was extended up to May 19, 2022, vide Directive DOR.MON.D63/12.23.042/2021-22 dated February 18, 2022, shall continue to apply to the bank for a further period of three months from May 20, 2022, to August 19, 2022, subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/238