PRESS RELEASE
RESERVE BANK OF INDIA
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Directions under Section 35A read with Section 56 of the Banking Regulation
Act, 1949 – The Karwar Urban Co-operative Bank Ltd., Karwar –
Extension of Period
The Reserve Bank of India issued Directions under Section 35A read with Section
56 of the Banking Regulation Act, 1949 to The Karwar Urban Co-operative Bank Ltd.,
Karwar vide Directive No. CO.DOS.SED.No.S1932/12-23-065/2024-2025 dated June
12, 2024, for a period of six months up to close of business on December 12, 2024,
as modified from time to time, which were last extended up to close of business on
June 12, 2025 vide Directive DOR.MON/D-106/12-23-065/2024-2025 dated March
03, 2025. The Reserve Bank of India is satisfied that in the public interest, it is
necessary to further extend the period of operation of the Directive beyond close of
business on June 12, 2025.
- Accordingly, the Reserve Bank of India, in exercise of the powers vested in it
under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation
Act, 1949, hereby extends the Directive for a further period of three months from
close of business on June 12, 2025, to close of business on September 12, 2025,
subject to review. - The aforesaid extension and /or modification by the Reserve Bank of India should
not per-se be construed to imply that the Reserve Bank of India is satisfied with the
financial position of the bank. - All other terms and conditions of the Directive under reference shall remain
unchanged.