The Reserve Bank of India issued Directions to the The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act,1949 vide Directive dated April 2, 2019.
In a pres release the Regulator said “The Reserve Bank of India is satisfied that in public interest, it is necessary to extend the period of operation of the Directives dated April 2, 2019, issued to The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka. Accordingly, the Reserve Bank of India, in exercise of powers vested in it”.
RBI hereby directs that the Directive dated April 2, 2019, issued to The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka, shall continue to apply to the bank for a further period of six months from October 8, 2019 to April 7, 2020, subject to review.
Other terms and conditions of the Directive under reference shall remain unchanged.