The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to the Hiriyur Urban Co-operative Bank Ltd., Hiriyur, from the close of business on March 10, 2023 vide Directive No. BLR.DOS.SSMS. No. S2333/12-14-075/2022-2023 dated March 09, 2023 for a period of six months. 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.

2. Accordingly, the Reserve Bank of India, in the exercise of 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 the close of business on September 10, 2023 to the close of business on December 10, 2023, subject to review.

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

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/876