The Municipal Co-operative Bank Ltd., Ahmedabad was imposed directions by Reserve Bank of India vide its Directive UBD. CO.NSB.II. / D-85 /12.21.114/ 2009-10 dated February 08, 2010, effective from the close of business on February 15, 2010, 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 period of directions imposed which was expiring on February 14, 2013, has since been further extended by six months i.e. up to August 14, 2013, subject to review, vide modified directive No. UBD.CO.BSD II/D-27/12.21.114/2012-13 dated January 29, 2013. 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 : 2012-2013/1382