The Reserve Bank of India issued Directions to The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala under Section 35 A read with Section 56 of the BR Act 1949 (AACS), vide Directive DCBS.CO.PCC D-4/12.26.004/2018-19 dated November 02, 2018, from close of business on November 09, 2018 for a period of six months, which were extended from time to time, last being up to June 09, 2021 vide the Directive DOR.CO.AID/D-38/12.26.004/2020-21 dated December 04, 2020.
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-14/12.26.004/2021-22 dated June 08, 2021 in exercise of powers vested in it under sub-section (1) of Section 35 A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India hereby directs that the Directive DCBS.CO. PCC. D-4/12.26.004/2018-19 dated November 02, 2018, issued to The Adoor Co-operative Urban Bank Limited, Adoor, Kerala, the validity of which was last extended up to June 09, 2021 shall continue to apply to the bank for a further period of three months, from June 10, 2021 to September 09, 2021, subject to review. Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged.
Press Release: 2021-2022/343