Bank
RBI extends time period for Mudhol Co-operative Bank by 3 months
New Delhi: The Reserve Bank of India (RBI) extended all Inclusive Directions to The Mudhol Cooperative Bank Limited, under Section 35(A) of the Banking Regulation Act, 1949. RBI satisfied that in the public interest, it is necessary to extend the period of operation of the Directive dated April 2, 2019 issued to The Mudhol Co-operative Bank Limited, After that it was last extended up to July 7, 2020 in which terms and conditions of the Directives under reference shall remain unchanged.
Accordingly, the Reserve Bank of India, in exercise of powers vested in it under subsection (1) of Section 35 A of the Banking Regulation Act, 1949, hereby directs that the directive issued to The Mudhol Co-operative Bank Limited of which was last extended up to July 7, 2020.
The directives shall be continue to apply to the bank for a further period of three months from July 8, 2020 to October 7, 2020.
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