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RBI Extends Directive on Thodupuzha Bank

The Reserve Bank of India has extended directions to Thodupuzha Urban Co-operative Bank Ltd in Kerala for another 3 months under Section 35A and 56 of the Banking Regulation Act of 1949. The previous directions issued in August 2022 and extended in February 2023 were set to expire on May 23, 2023. However, the RBI is satisfied that continuing the directions is necessary in public interest. As a result, the directions will now remain in place until August 23, 2023, subject to review.

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Vasu Ram Jayanth
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72 views1 page

RBI Extends Directive on Thodupuzha Bank

The Reserve Bank of India has extended directions to Thodupuzha Urban Co-operative Bank Ltd in Kerala for another 3 months under Section 35A and 56 of the Banking Regulation Act of 1949. The previous directions issued in August 2022 and extended in February 2023 were set to expire on May 23, 2023. However, the RBI is satisfied that continuing the directions is necessary in public interest. As a result, the directions will now remain in place until August 23, 2023, subject to review.

Uploaded by

Vasu Ram Jayanth
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�ेस �काशनी PRESS RELEASE

भारतीय �रज़व� ब�क


RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, क� �ीय कायार्लय, शहीद भगत �संह मागर्, फोटर्, मुंबई-400001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai-400001 फोन/Phone: 022- 22660502

May 24, 2023

Directions under Section 35A read with Section 56 of the BR Act 1949 (AACS)-
Thodupuzha Urban Co-operative Bank Ltd, Kerala- Extension of period

The Reserve Bank of India issued Directions to Thodupuzha Urban Co-operative


Urban Bank Ltd, Kerala under section 35A read with section 56 of
the Banking Regulation Act, 1949 (AACS), vide Directive No.
CO.DOS.SED.No.S3361/12.07.005/2022-23 dated August 23, 2022, from close of
business on August 23, 2023, for a period of six months, which was last extended vide
the Directive DOR.MON/D-77/12.16.051/2022-23 dated February 23, 2023 for a further
period of three months, i.e., up to May 23, 2023.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to
extend the period of operation of the aforesaid Directions. Accordingly, vide the Directive
DOR.MON/D-25/12.16.051/2023-24 dated May 23, 2023 in exercise of powers vested in
it under sub-section (1) of section 35A read with section 56 of the Banking Regulation
Act, 1949, the Reserve Bank of India has directed that the Directive No.
CO.DOS.SED.No.S3361/12.07.005/2022-23 dated August 23, 2022, issued to
Thodupuzha Urban Co-operative Bank Limited, Kerala, the validity of which was last
extended up to May 23, 2023, shall continue to apply to the bank for a further period of
three months, i.e., from May 24, 2023 to August 23, 2023, subject to review. Other terms
and conditions of the Directive under reference, as modified from time to time, shall
remain unchanged.

(Yogesh Dayal)
Press Release: 2023-2024/275 Chief General Manager

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