RBI Imposes Curbs on Mudhol Co-operative Bank Limited [Read Official Press Release]

The Reserve Bank of India issued All-Inclusive Directions to The Mudhol Co-operative Bank Limited, Dist.- Bagalkot, Karnataka, pursuant to Section 35 A read with Section 56 of the Banking Regulation Act, 1949, via Directive DCBS.CO.BSD III.D-11/12.23.094/2018-19 dated April 02, 2019, as modified from time to time, which were last extended until April 07, 2022 via Directive DOR.MON.No.D-58/12.23

2. The Reserve Bank of India is satisfied that, in the public interest, the Directive DCBS.CO.BSD-III.D-11/12.23.094/ 2018-19 dated April 02, 2019 issued to The Mudhol Co-operative Bank Limited, Dist.- Bagalkot, Karnataka, and as modified from time to time, the most recent being Directive DOR.MON.No.D-58/12.23.094/2020-21 dated January 06, 2022, should be extended. As a result, the Reserve Bank of India, in the exercise of the powers conferred on it by sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD 111.D-11/12.23.094/2018-19 dated April 02, 2019, issued to The Mudhol Co-operative Bank Limited, Dist.- Bagalkot, Karnataka, as modified from time to time, and whose validity was last extended The Directives under reference’s other terms and conditions will remain unaltered.

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