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The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to HCBL Co-operative Bank Ltd., Lucknow vide Directive No. LKO.DOS.SED.No.S842/10-12-133/2022-2023 dated February 23, 2023 for a period of six months upto August 24, 2023, as modified from time to time, which were last extended upto November 24, 2024 vide Directive No. DOR.MON/D-43/12.22.133/2024-25 dated August 16, 2024. 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 November 24, 2024. 2. Accordingly, the Reserve Bank of India, in the exercise of 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 of November 24, 2024 to close of business of February 24, 2025, subject to review. 3. Other terms and conditions of the Directives under reference, shall remain unchanged. (Puneet Pancholy) Press Release: 2024-2025/1564 |
