DIRECTIONS UNDER SECTION 35A READ WITH SECTION 56 OF THE BANKING REGULATION ACT, 1949 - SRI GURU RAGHAVENDRA SAHAKARA BANK NIYAMITHA, BENGALURU, KARNATAKA - EXTENSION OF PERIOD

MUMBAI, India, Nov. 7 -- Reserve Bank of India issued the following press release:

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive No. DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to close of business on July 10, 2020. 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 November 10, 2025.

2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Sect...